Closer cooperation among smaller states on economic issues is more than welcomed, House President Marios Garoyian said, addressing Monday the 4th Conference of the Presidents of the European Small States’ Parliaments, which takes place in Nicosia.
Garoyian noted that apart from measures taken on local and national level, “closer cooperation regarding economy among states which share similar characteristics is welcomed”.
“Small states could therefore benefit to a great extent through cooperation and coordination among them”, he said, in an intervention during the 2nd session of the Conference entitled “The global economic crisis and its effects on Small European States”.
The Conference is attended by the Presidents and/or Deputy Presidents or representatives of the European Small States’ Parliaments from Andorra, Cyprus, Iceland, Liechtenstein, Luxembourg, Malta, Monaco, Montenegro and San Marino.
The House President expressed the view that the exchange of experiences and best practices could address, in a more effective manner, economic challenges by each state separately, while the enforcement of their economic relations could be beneficial for all.
“It is for this reason that we welcome the initiative by the President of the Parliament of Monaco to coordinate efforts aiming at boosting tourist relations and exchanges between our states”, he went on to say.
Referring to the world economic crisis and its impact on Cyprus, he said that Cyprus’ healthy and robust banking system has protected the country to a great extent but despite that, some areas of the economy have been affected, like services, tourism and the construction industry.
Garoyian referred to the efforts made by the government to deal more effectively with the consequences of the world economic crisis.
He also pointed out that the Cyprus economy shows a decline and said that there is a decrease in the rate of growth to -0,5% in 2009 and unemployment reached 5,5% in 2009 while in 2008 it was 4%.
In his welcoming address earlier, Garoyian expressed the conviction that the Conference will be an excellent opportunity for dialogue among states, which share the same concerns and are faced with the same challenges.
He added that the Conference proves the good relations and the spirit of cooperation, which exists among participant states, and offers an opportunity to reaffirm the commitment to common principles and values.
