Cyprus PIO: News Update in English, 02-03-04

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

Monday, 4 March 2002

CONTENTS

• [01] Second round of UN-led direct talks on Cyprus resumes
• [02] Foreign Minister raises Cyprus problem in Commonwealth Summit
• [03] Australia looks forward to seeing Cyprus as a member of the European Union
• [04] Statement by the Government Spokesman
• [05] Cyprus and Czech Republic sign financial services memorandum

[01] Second round of UN-led direct talks on Cyprus resumes

President Clerides and Mr Denktash have agreed to meet twice a week, on Tuesday afternoons and Friday mornings.

[02] Foreign Minister raises Cyprus problem in Commonwealth Summit

Cyprus Foreign Minister Mr Ioannis Kasoulides, who is representing Cyprus at the meeting, speaking on the Cyprus problem on 3 March, referred to the UN led direct talks on Cyprus the result of which, he said, would determine whether the principles on which the Commonwealth is founded are respected. It will demonstrate whether the principle of the territorial integrity, independence and unity of nations are respected, whether the coexistence of different nationalities in one country is a reason for partition or a reason for further strengthening relations and bringing unity in a multi cultural state.

Mr Kasoulides outlined the developments since the last Summit at Durban and stressed that the search for a solution to the Cyprus problem must be found in the framework defined by the United Nations.

Referring to the outcome of the first round of direct talks on Cyprus, Mr Kasoulides underlined that the Turkish position for the creation of two separate sovereign states in Cyprus cannot lead to the solution of the Cyprus problem since it is outside the parameters of the UN resolutions which provide for one state in Cyprus with one sovereignty, one international personality and one nationality. As described in the UN Secretary General's report of 1990, this state will consist of two politically equal communities in the framework of a bizonal bicommunal federation, he said.

The Cyprus Foreign Minister asked for the Commonwealth's support in this direction.

A paragraph on Cyprus is expected in the final communique of the Commonwealth summit.

[03] Australia looks forward to seeing Cyprus as a member of the European Union

In his remarks after the meeting, Mr Kasoulides said that discussions focused on the recent developments in the UN-led direct talks on Cyprus, the work of the Commonwealth and matters concerning illegal immigration, which is a large problem for Australia.

In his statement, Mr Downer said that Australia and Cyprus have very strong ethnic links and expressed support for the plight of the Cypriot people since the 1974 Turkish invasion of Cyprus. He said that his country wishes to help in any way it can to ensure that there is a just settlement for the people of Cyprus. Australia wants Cyprus to be one nation and to have a sense of national unity and national purpose, he added.

Finally, Mr Downer stressed that his government looks forward to seeing Cyprus as a member of the European Union, which will be a very important development for the people of Cyprus.

[04] Statement by the Government Spokesman

"The Council of Ministers convened in an emergency meeting today to be briefed by the President of the Republic on the common position of the European Union regarding the restrictive measures against Zimbabwe in relation to political contacts as well as economic matters.

The Council of Ministers decided to adopt the common position of the Council of the European Union and the provisions of the relevant articles with immediate implementation."

[05] Cyprus and Czech Republic sign financial services memorandum

The Czech Securities Commission is the competent regulatory authority for the capital market in the Czech Republic, performing state supervision and promoting, through its activities, the development and protection of the capital market within the scope of its powers under the relevant Czech legislation. The Central Bank of Cyprus, in addition to being the country's monetary and banking supervisory authority, it also regulates, under the Exchange Control Law, the activities of all international financial services firms which are based in Cyprus. The Central Bank of Cyprus is also the licensing and regulatory authority of International Collective Investment Schemes, their Managers and their Trustees under the International Collective Investment Schemes Law.

The Memorandum, signed on behalf of the Central Bank of Cyprus by its Governor Mr Afxentis Afxentiou and on behalf of the Czech Securities Commission by its Chairman Mr. Frantisek Jakub, will establish a general framework of mutual co-operation and exchange of information between the two Authorities with a view of facilitating the performance of their cross- border regulatory functions and responsibilities and enhancing the supervision of international financial services, in accordance with their respective laws and regulations.

The signing of the Memorandum of Understanding between the Czech Securities Commission and the Central Bank of Cyprus had been necessitated by the presence in Cyprus of international financial services firms owned by Czech interests as well as by the expansion of the activities of a number of Cyprus based international financial services firms into the Czech Republic.

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

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