EU Commissioner commends Cyprus’ record on EU law transposition

European Union Commissioner for the Internal Market and Services Charlie McCreevy praised here today Cyprus record with respect to EU law transposition and implementation, noting that Cyprus is a very good example to other EU member-states.
Speaking in a joint press conference with Cypriot Finance Minister Machalis Sarris, McCreevy congratulated Cyprus mainly on its good macroeconomic situation should allow the country to join the Euro zone in 2008, as well as Cyprus‘ ”excellent track record with respect to the transposition and implementation of EU laws.”
Replying to questions, McCreevy referred to his contacts with government officials noting that ”they are very open to opening up the markets in whole other areas,” adding that ”this should allow Cyprus to exploit the potential of being in a single market for 190 million persons as it is today.”
He noted that he expects Cyprus, particularly in the services area ”to gain considerable foothold than the other member-states and all these would benefit the Cypriot economy and the Cypriot people.”
Cyprus‘ transposition deficit is 1 per cent, one of the lowest within the EU member-states, lower than the target of 1.5 per cent set by the European Union.
”I think Cyprus can be a very good example to lots of other member states and Cyprus is a very committed member of the EU and wants to actively participate in all of its activities.”
On his part, Sarris noted that the European Sigle Market is one of the main reasons why Cyprus joined the European Union.
”We focus on the liberalisation of all markets, including the banks market, and capital and labour markets. All these have great importance for a small island,” he concluded.
McCreecy was received by Cyprus President Tassos Papadopoulos, while he had separate meetings with Sarris and Minister of Commerce, Industry and Tourism Antonis Michaelides.