Cyprus News Agency: News in English, 10-11-06

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] PRESIDENTS OF CYPRUS AND SYRIA - BUSINESS FORUM

[02] GOVERNMENT SPOKESMAN - EUROPEAN COMMISSION - EUROCYPRIA

[03] CY - POLAND - DEFENCE

[01] PRESIDENTS OF CYPRUS AND SYRIA - BUSINESS FORUM

The first business forum was organised by the Cyprus Chamber of Commerce and Industry (CCCI) on the occasion of Al Assad`s visit to Cyprus, in the presence of businesspeople from both countries.

Addressing the forum, President Christofias said ``today`s event provides an excellent forum for exploring the world of trade and investment opportunities in Cyprus and Syria.``

``A strong and productive relationship between Cyprus and Syria is important to both our economies and will help to strengthen even further our bilateral ties as far as trade, investments and tourism are concerned,`` the President said, adding ``our government has much higher ambitions for deepening our relationship and the presence here today of so many business people and entrepreneurs, shows how committed our countries are to making this relationship successful.``

He added that Cyprus welcomes Syrian businesspeople ``eager to invest and promote business activities, and as a European Union member country, offers attractive benefits and opportunities for companies wishing to establish their business on the island or use it as a hub to access the European Market.``

Concluding, Christofias expressed hope ``that it will be both productive and stimulating and will help strengthen our trade and economic cooperation for the development and prosperity of our two countries.``

On his part, Al Assad recalled President`s Christofias visit to Damascus last year, noting that this visit ``was a pivotal step in strengthening ties between our countries.``

The Syrian President referred to the future of the two countries, stressing that ``key to this future is a new and active partnership one can build on our common interests and priorities.``

Referring to developments in Syria and the region, Al Assad outlined his country`s initiative to transform Syria into a link between the Middle East and Europe in the fields of transport, energy and tourism.

``Cyprus shares this strategic location as both a member of the EU and as a direct neighbour to Syria and as such it should be a part of this regional dynamic,`` he said adding ``through bilateral and regional agreements in this field, we can be sure that our region is one that is characterized by inclusive growth and sustainable development.``

Welcoming the two Presidents, CCCI President Manthos Mavrommatis said that their presence ``indicates the importance of the forum and their commitment to foster closer economic ties between the two countries.``

``Your presence here today reinforces our efforts in developing and strengthen economic relations between Cyprus and the friendly country of Syria,`` he noted.

Mavrommatis also said that ``the Cyprus Chamber realizes the great potential for economic collaboration with Syria and promises to assist, promote and strengthen business cooperation between the two countries, especially in this period that Syria`s relationship with the EU is progressing and new and promising investment opportunities arise in our close neighbourhood.``

[02] GOVERNMENT SPOKESMAN - EUROPEAN COMMISSION - EUROCYPRIA

In a joint press conference with Minister of Finance Charilaos Stavrakis, the Spokesman referred to the main conclusions of the meeting at the EU`s General Directorate on Competitiveness in Brussels, attended by the government and representatives of the companies, the employees, the trade unions and the legal advisers of the companies.

Stephanou explained that the representatives of the European Commission said a merger or absorption of activities was ruled out according to article 3 of the 2007 restructuring plan for Cyprus Airways.

According to the EU, the only option the government has is to adopt the usual creditors` liquidation procedure for Eurocypria, he added, noting that transferring assets or staff from Eurocypria to Cyprus Airways was not allowed.

Furthermore, he said, it was forbidden for the government to undertake Eurocypria`s obligations either before or after the liquidation.

Stephanou noted that, according to the Commission, the government was allowed to implement a compensation plan for the employees, after liquidation, and that the government would be ready to announce such a plan early next week.

Explaining the term ``creditors` liquidation``, Stavrakis said the company would cease to exist as a legal entity, and that it appeared that most of Eurocypria`s obligations would be covered and it was unlikely that anything would be left over.

Stavrakis also said Eurocypria rented airplanes and thus had no large assets to sell, adding that optimistic indications showed that the value of assets would not exceed three million euros.

[03] CY - POLAND - DEFENCE

Papacostas, who recently visited Warsaw, said that Cyprus does not object to any cooperation between the EU and NATO provided this will retain EU autonomy in the decision-making procedures and that everybody respects its institutional framework.

The Cypriot Minister briefed his interlocutors on the Cyprus issue, noting that this is the most critical juncture and that the Cypriots are ready for a bi-zonal, bi-communal federation with political equality as defined by UN Security Council resolutions.

During the two-day visit, he had separate meetings with Deputy Foreign Security Policy Jacek Najder, the Minister of National Defence Bogdan Adam Klich, the Minister responsible for National Service Stanislaw Koziej and the Chairman of the House Defense Stanislaw Wziatek.

Cyprus News Agency: News in English Directory - Previous Article - Next Article