Cyprus and China improve their business ties

28 Nov 2019

Cyprus and China aim to strengthen business ties
Cyprus and China aim to strengthen business ties
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During a China-Cyprus Business Forum in Guangzhou, China has promoted the comparative advantages of Cyprus as an investment and tourist destination as well as an economic, business and maritime center.

The forum was organized by the Cyprus Investment Promotion Agency (CIPA) and the China Council for International Trade Promotion (CCPIT) in the presence of House President Demetris Syllouris and the delegation that accompanied him on his visit to China at the invitation of the National People's Congress.
 
There were attending 145 delegates at the conference. Addressing to participants, Syllouris said Cyprus and China are based on mutual respect and solidarity in their historical ties, qualities that form the basis for strong business partnerships that are people-centered and lead to greater mutual benefits.
 
He said the forum was a very important event in the efforts between China and Cyprus to increase trade and investment and the growth of the two economies in general. Cyprus was also a supporter of the "One Belt-One Road" initiative of Chinese President Xi.
 
"It is no coincidence that last year the House of Representatives took the initiative of signing a Memorandum of Understanding with the National People's Congress of the People's Republic of China with a special reference to the Belt and Road initiative and ways in which both parliaments would improve economic cooperation in this context," he added.
 
As Syllouris said, Cyprus considers China an important strategic partner, not only in the political sphere but also in the economic sphere. For Cypriot and Chinese entrepreneurs in multiple sectors, including infrastructure, education and research, innovation, the cultural, maritime, tourism and agricultural sectors, new investment opportunities and business collaborations have been offered.
 
Addressing the event CCPIT Vice-Chairman Lu Pengqi noted the value of China-Cyprus tourism exchanges and expressed the hope that the latter would offer improved visa facilities for Chinese tourists.
 
He also referred to the potential of promoting Cypriot products on the Chinese market, such as halloumi, olive oil, wine, and fruit juices, while talking about investments, he said that even more Chinese companies are now paying attention to the potential of investing in Cyprus in areas such as the maritime sector, infrastructure, ports, logistics, and transport. He also noted that in the Chinese Belt and Road initiative, Cyprus was a very important player.
 
Nicolas Theocharides, a member of the CIPA Board of the Forum, gave a presentation on "Cyprus: a leading and vibrant business center in the EU," while PwC Cyprus ' Theo Parperis presented the Cyprus regulatory framework and attractive tax regime and their significant benefits for corporates and individuals.

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