Minister outlines Cyprus’ advantages as a business centre

Minister of Commerce, Industry and Tourism Antonis Paschalides has outlined the advantages Cyprus offers to foreign businesspeople, during a seminar organised in Shanghai, for the promotion of the country as an international business centre.

The seminar, under the auspices of the Cypriot Ministry, was organised by the Cyprus Chamber of Commerce and Shanghai's International Chamber of Commerce.

Addressing the seminar, Paschalides referred to Cyprus' advantages for international businesspeople, due to its proximity both to Europe and the Arab world, its stable banking system, its communications, its low tax regime and the traditional Cypriot hospitality.

On the sidelines of the seminar, Paschalides met Deputy General Secretary of the government of Shanghai and President of the Commerce Commission Sha Hai Lin with whom he reviewed bilateral commercial and economic relations.

Paschalides and Sha Hai Lin agreed that the Shanghai official will head a trade and tourist mission to Cyprus, to explore areas of future cooperation.

Sha Hai Lin expressed interest in the promotion and encouragement of Chinese companies to invest in Cyprus, due to the advantages offered by Cyprus as a member of the European Union.

Paschalides will travel in Beijing to meet China's Commerce Minister and other state officials.