Cyprus aims to become logistics centre for Asian products and businesses

Cyprus is best positioned to serve as a stepping stone for Asian products and businesses to the lucrative EU and Near East markets, said Commerce, Industry and Tourism Minister Antonis Michaelides, addressing the Euro-China Business Week that got underway at the IMC centre in Nicosia.
The Euro-China Business Week is organised by the International Merchandising Centre, in cooperation with the Cyprus Chamber of Commerce and Industry, the Wenzhou International Chamber of Commerce of China and the Made in China Association in Beijing.
Commerce Minister said that after the recent visit of President Tassos Papadopoulos to China, both sides have recognized the important role of Cyprus as a base for their operations in Europe, due to the island’s strategic location.
Cyprus has excellent political and commercial relations with all its neighbours, a stable, open market economy and a favourable foreign investment climate, Michaelides added.
Every beginning is difficult Chinese Ambassador to Cyprus Zhao Yali said in his speech, referring to the important increase in commercial exchanges between China and Cyprus in the first nine months of 2007.
He said Cyprus is situated in a very important geographic position, bearing in mind the fact that it is a full member of the EU, while China has been developing into a great power in the past years.
The launch of the Euro-China week, he added, is very important not only for China and for Cyprus but also for Middle East countries because it brings China closer to them and creates conditions more favourable for contacts with Chinese business people.
Zhao said that in the first nine months of 2007, commercial exchanges between the two countries have reached 500 million dollars, something, which constitutes “a historic record”.
China’s exports to Cyprus increased by 80% while imports to China from Cyprus rose by 148%, he said adding, “There is great room to further develop these”.