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2009 will be a tough year, since Cyprus’ economy depends largely on tourism, foreign investments and provision of services, Minister of Commerce, Industry and Tourism, Antonis Paschalides, stressed here today addressing the annual summit of Cyprus Institute of Marketing, held in Nicosia.
“Taking into consideration the system of mixed economy and the international financial crisis, we all work towards supporting the business world and provide it with the necessary tools to cope with the difficulties that exist globally and simultaneously to take advantage of the opportunities emerging in this new, changing, economic environment», he added.
“The marketing sector, apart from the basic and essential role that it plays concerning the provision of knowledge, the configuration of personality of individuals and their socialization, can definitely contribute to the economic and social growth. Marketers are now called to find the suitable ways to promote products and services in this economy recession” Paschalides noted, adding that “we need to focus on the value of products or services; sell benefits not features, turn online marketing into a venue of promotion of products or services”.
Minister of Commerce said that the Government’s strategy for marketing and promoting the services sector, as well as the agricultural and industrial products, focuses on creating awareness and influencing perception of business decision makers in selected overseas markets by projecting in these markets the distinct advantages and possibilities that Cyprus can provide the international business companies.
“The numerous comparative advantages have rendered Cyprus a major international business and financial center. In the last two decades the Cyprus service sector has experienced a significant growth rate and today is the leading sector and the engine of further growth of the island’s economy», Paschalides said.
He underscored that the Ministry of Commerce, Industry and Tourism operates 11 Trade Centers in Europe, the USA and Gulf States whose role, amongst others, is to promote Cyprus professional services, like financing, banking, marketing, education, information technology and more others.
“I would like to stress out that the Government of Cyprus is ready to give its full support and encouragement in order to create the most favorable environment for the marketing science, marketers and business people, especially now, during this economic crisis” the Minister assured.
The speech was read out by senior official of the Ministry of Commerce, Nelly Koulias.
