Cyprus PIO: News Update in English, 02-11-04

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

Monday, 4 November 2002

CONTENTS

• [01] Cyprus FM: France fully supports Cyprus' EU accession
• [02] Monetary Policy Committee decisions
• [03] Cyprus' Foreign Trade statistics for first semester of 2002

[01] Cyprus FM: France fully supports Cyprus' EU accession

Mr. Kasoulides emphasised that, from his contacts with the French Foreign Minister, Mr. Dominique de Villepin, the Minister for European Affairs, Ms. Noelle Lenoir and members of the Committee on Foreign Affairs at the French National Assembly and Senate, he "became recipient" of the positive attitude of France towards Cyprus' EU accession course.

He added that "as a permanent member of the Security Council, the French government is monitoring developments with regard to the Cyprus problem and surely understands our concerns." "At the same time", the Cyprus Minister noted, "France supports the UN Secretary-General's efforts to solve the Cyprus problem, efforts which must comply with the Security Council resolutions".

Asked to say whether the UN Secretary-General would submit a solution plan after all, Mr. Kasoulides replied that Mr. Annan would make that decision only after the Turkish elections, noting however that a plan was probably being prepared by the Secretary-General's associates.

"Our side is gathering, from talks and information, clues that show what such a plan could include. Some of these clues are acceptable, others are bearable and there are some, which, at this moment we are trying to make it clear to UN representatives, should not be included because if they are included, they will not be accepted", he concluded.

[02] Monetary Policy Committee decisions

1. The key official interest rates of the Central Bank, that is the interest rates of the marginal lending facility (Lombard) and the deposit facility remain unchanged at 5,50% and 2,50% respectively.

2. The reference value for the annual growth rate of bank credit in 2002 is 11%.

[03] Cyprus' Foreign Trade statistics for first semester of 2002

a) Total imports (covering imports for home consumption and imports placed into bonded warehouses) were £1.261,0 mn as compared with £1.266,6 mn in January-June 2001. Total exports amounted to £273,2 mn compared to £328,9 mn during January-June 2001. The trade deficit accounted for £987,8 mn compared to £937,7 mn in the corresponding period of 2001.

b) Imports for home consumption totalled £1.139,7 mn compared to £1.069,4 mn in January-June 2001. Intermediate inputs imported for home consumption in January-June 2002 valued at £358,7 mn or 31,5% followed by consumer goods with £322,5 mn or 28,3% transport equipment with £147,5 mn or 12,9% fuels and lubricants with £128,4 mn or 11,3% and capital goods with £121,8 mn or 10,7%.

c) Domestic exports, including stores and provisions valued at £134,3 mn as compared with £133,6 mn in January-June 2001 and re-exports, including stores and provisions to £138,9 mn compared to £195,3 mn in the corresponding period of 2001. Industrial products of domestic produce exported in January- June 2002 accounted for £92,3 mn or 71,3% while exports of raw agricultural products valued at £35,8 mn or 27,6%.

d) During the period January-June 2002, the EU member states supplied Cyprus with goods valued at £650,6 mn or 51,6% and absorbed goods valued at £74,1 mn or 57,1% of Cyprus domestic exports, excluding stores and provisions.

Additional data on Cyprus foreign trade are shown in the quarterly publication entitled "Imports-Exports Statistics", obtainable from the Government Printing Office, while more detailed statistics on the same field are available from the Statistical Service.

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

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