Cyprus to embark on international campaign to boost economy

The Ministry of Commerce, Industry and Tourism and the Cyprus Chamber of Commerce and Industry (KEVE) are planning to hold business missions to 18 countries with a view to promote Cyprus as a regional service centre and avert the consequences of the global financial crisis.
Minister of Commerce Antonis Paschalides and KEVE President Manthos Mavrommatis told a press conference that within 2009, Cyprus businesspeople and state trade officials will organise seminars in Denmark (Copenhagen), Norway (Oslo), Egypt (Cairo, Alexandria), Switzerland (Zurich), China (Hong Kong, Shanghai), Russia (Moscow, Sochi, Yekaterinburg), Czech Republic (Prague), Lebanon, Jordan, France (Paris, Marseilles) and Israel. Cyprus will also participate in exhibitions such as ''Medic Expo 2009'' in Athens, Academia Egypt in Cairo and International Business Gateway in New York.
Paschalides said that competition to attract investment and tourism amidst the global financial crisis ''will be tough,'' pointing out the need to press on with the seminars with a view to promote Cyprus as a regional business centre and its advantages such as its geostrategic position, its stable banking centre and its financial expertise.
''All these offer a very competitive product which has been tested and succeeded,'' he stressed.
Mavrommatis said that this intense activity proves the Ministry's and the Chamber's determination to face the repercussions of the financial crisis.
Cyprus is focusing mainly on Middle East countries, such as Iran as well as Eurasian countries, such as Ukraine, Belarus, Moldova and Kazakhstan, while strengthening financial and trade ties with Russia, remains a priority.
He also underlined the importance of the Russian market, stressing that Russian businesspeople have the highest deposits in the Cypriot banking system.