Cyprus PIO: News Update in English, 97-02-11

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From: The Republic of Cyprus Press and Information Office Server at <http://www.pio.gov.cy/>

News Update

Tuesday, 11/02/97

CONTENTS

• [01] Clerides starts official visit to India
• [02] Han in Athens
• [03] Foreign investment restrictions raised

[01] Clerides starts official visit to India

Speaking at a reception held in his honour at Rashtrapati Bhavan Presidential Palace, President Clerides said he is greatly honoured to be in India, "a country with which Cyprus maintains excellent relations."

Cyprus and India, he said, believe in the same principles and added that the great co-operation that exists between the two countries in international political fora should also be extended and strengthened in the fields of commerce and industry.

He was greeted at the reception by President of India Dayal Sharma and Indian Prime Minister H.D. Deve Gowda.

President Clerides, who is accompanied by Foreign Minister Alecos Michaelides and Government Spokesman Yiannakis Cassoulides, later visited the Mahatma Gandhi Crematorium, where he laid a wreath and planted a sapling. A one minute's silence was observed. President Clerides was also presented with a set of books on Mahatma Gandhi.

Later in the day he also visited the Greek school run by the Republic's High Commission in the Indian capital, where more than 30 Indian nationals of different ages are taking Greek language and literature lessons.

Indian President Shanker Dayal Sharma hosted a banquet in honour of President Clerides. He said in his toast that "traditional bonds and contacts between Cyprus and India have provided a solid foundation upon which to build and strengthen the extremely friendly and close political ties which exist between the two countries".

"We have both known what it is to struggle for freedom and we have both defended our sovereignty and democracy against difficult odds", he said.

He also made a special reference to the close relations between the late President of Cyprus, Archbishop Makarios III, and the late Indian Premier Jawaharlal Nehru and to Cyprus-Indian co-operation at the UN, the Non- Aligned Movement and the Commonwealth.

''We believe it is possible to find a just and viable solution to the Cyprus issue which represents the aspirations of all the Cypriot people within an overall framework of a single sovereign and international personality for Cyprus," the Indian President said.

President Sharma noted that India's economic reform and restructuring programme had opened up ''immense opportunities for mutually beneficial trade and investment partnerships and joint ventures between business communities in Cyprus and India."

He expressed support for Cyprus' process for accession to the European Union and described the EU as "India's leading economic partner", noting at the same time that his country has "a natural interest in seeing the EU remain open and outward-looking."

In his toast, President Clerides expressed "deep appreciation for India's steadfast solidarity with our struggle for freedom and justice".

The President reaffirmed his government's commitment to a peaceful resolution of the Cyprus problem, the reunification of Cyprus and the safeguarding of the fundamental freedoms and human rights of all its citizens.

"Turkey's continuing intransigence and negative stance has resulted in the non-implementation of a plethora of mandatory UN resolutions on the question of Cyprus," the President said.

Clerides said that Cyprus continues to face "the abhorrent consequences of the forcible division imposed by the Turkish invasion and continued occupation of 37 per cent of our territory."

Regarding bilateral ties, the President noted that "increasing contacts and exchanges at various levels have succeeded in bridging the geographical distance separating our countries."

Cyprus, he added, attaches the "utmost importance in maintaining and further strengthening its close friendship and co-operation with India."

[02] Han in Athens

In statements afterwards, Mr Kranidiotis said that the talks were held within the framework of the letter the UN Secretary General had sent to the Greek Prime Minister. He said the UN official had briefed him on his visits to Cyprus and Turkey and that he in his turn had expressed the positions of the Greek government.

"The government supports the good offices mission of the UN Secretary General", he said adding that he had told Mr Han that the solution to the Cyprus problem should be based on the fact that the Cyprus problem is not just an intercommunal difference, but is a question of invasion and occupation and in this respect the international community should exert pressure on Turkey which is the one who holds the key to future developments.

"The anomaly in Cyprus is the Turkish occupation and not Cyprus' right for defence. We support the demilitarisation of Cyprus and the setting up of a multinational force to safeguard peace on the island", he said.

He also expressed Greece's support for direct negotiations on Cyprus which he said should start as soon as possible but not before the ground is properly prepared to enable such talks to succeed.

Mr Han said that he was in Greece to convey the UN Secretary General's interest in the Cyprus problem and his readiness to help as much as possible. He added that he was in the region in order to contribute to the creation of the right climate and to explore the possibilities for a solution.

He called on both Athens and Ankara to work for peace on the island.

"To reach a viable and permanent solution it is important we get the support of both Greece and Turkey", he said.

[03] Foreign investment restrictions raised

As from yesterday it has made it easier for companies to invest in Cyprus by allowing them to control a 100 per cent share in certain sectors, such as secondary industries, retail and wholesale trading and services.

The new liberalisation policy replaces a 1986 government decision putting a fixed ceiling of 49 per cent on foreign ownership and barring entry in other areas.

In addition, the amount of money Cypriots can invest abroad has also been increased, with local businessmen being allowed to transfer larger amounts of capital.

However, foreign investment in retail and wholesale would need to reach a minimum value of 300.000 pounds to gain over 49 per cent control, while in the service sector, the minimum investment would be between 50.000 and 100.000 pounds.

From the Republic of Cyprus Press and Information Office (PIO) Server at http://www.pio.gov.cy/

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