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President highlights Cyprus' economic advantages

15/10/2015 09:13
The plethora of advantages Cyprus offers as a successful international business center and a maritime player were highlighted by President Nicos Anastasiades in a speech at an event held on Thursday at Remnin University in Beijing. The event titled “One Belt-One Road” refers to the initiative announced in 2013 by the Chinese government, based on the re-inauguration of the ancient routes that connected Asia and Europe two thousand years ago.

As the President pointed out, this initiative “comes to buttress the existing international multilateral economic order, not to replace it, by adding new dimensions to the way we communicate and trade”.

In his speech the President said that the “One Belt One Road’’ Initiative is an ambitious project covering a geographical region that stretches from East Asia to Europe and can provide the impetus needed to break the current economic stagnation.

“It can attract investments, combat unemployment, assist in the efforts to eradicate poverty and address under-development”, President Anastasiades said, pointing out that Cyprus participated in the establishment of the Asian Infrastructure and Investment Bank (AIIB), an international financial institution which is focused on supporting infrastructure construction in the Asia-Pacific region.

He said that Cyprus and China enjoy excellent and cordial relations in all fields since the establishment of diplomatic relations in 1971, they share common values and have established mutual understanding on various regional and international issues.

He added that Cyprus, being at the European Union’s south-most eastern border, essentially lies at the crossroads of Europe, Asia and Africa, and can therefore be an active player in promoting the values and aims of the Silk Road Initiative.

“During the past 30 years, Cyprus has evolved progressively into a successful international business center and an important international maritime player. Having one of the largest maritime registry in the world, the country is considered today to be an important international shipping player. It has the third largest fleet within the European Union with a percentage of over 12% of the total fleet of the 28 EU member states”, the President underlined.

He went on to say that Cyprus can be used as a transit point in the Silk Road Maritime Trade Routes, pointing out that this initiative is certainly timely for our country which is recovering fast from an unprecedented economic crisis.


According to the President, this initiative provides an additional incentive to efforts of promoting new opportunities to people and the business community.

President Anastasiades referred to the economic reforms underway, saying that they will maximize further Cyprus` growth potential and deliver new investment opportunities to the private sector.

“In this way, Cyprus is reaffirming its reputation as a centre of excellence for international investment and business activity”, he said.

Referring to the EU-China relations, the President said that the determination of both sides to surge ahead and enhance their Strategic Partnership into new areas, including the prospects rising from the One Belt One Road, can be the guiding principles of their future relation.

“The `One Belt One Road Initiative` can provide all the necessary elements for better education as well as conditions for socio-economic development through growth. It also provides the incentive for cooperation in the academic level by encouraging educational and cultural exchanges, for the benefit of the societies of all the participating countries along the land and maritime routes of the Silk Road”, the President said in his speech.

He also pointed out that “it is up to us to seize this moment and return to the well-trodden, but dynamically new path, where East meets West.”

“It is high time for us to continue the journey of the Silk Road. We stand ready to be part of this effort and convey the world the message that common values and shared vision can bring us together and create, along the Silk Road, the conditions for a success story”, he said.