Promoting Cyprus business opportunities is a two-way street

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The embassy of any country abroad is the mirror of that country back home. 


In the business world, embassies should promote the business interests of the country that it is representing, keeping an eye on opportunities that the host country may offer. 

It should then be up to the local (Cypriot) firms and those in the host country to get together. 

Embassies should try to deal with any existing problems and host events for Cypriot firms while representatives keep an eye on developments and suggest to the Cyprus Government, especially the Ministry of Commerce & Industry, what action Cypriot firms need to undertake.

Are our embassies up to these basic requirements?  We very much doubt it.  From what we read, embassies and their staff are looking after themselves on personal comforts and the recent report of the Auditor General on their inactivity is an example in hand. 

In addition to the excessive costs, existing staff bring over their spouses, medical bills are overcharged and so on. 

How can we depend on any Cypriot embassy for business regarding Cyprus?  Our embassies in terms of business promotion are absolutely useless.

We, as a firm, a few years ago, wished to expand our activities in Germany to promote Cyprus to this affluent country for real estate investment. 

We even visited the then Minister of Commerce since we received no replies from our Germany embassy. 

We asked the embassy to invite certain firms in Germany, who might be interested and offered to pay whatever the cost was. 

After a six-month delay in responding and after the Minister’s intervention, we duly got an estate agents (German) directory for us to call with no investigation or any offer for help on their part!! 

We understand those civil servants are paid handsomely, we did not ask for them to work overtime, but the interest on their part was zero. 

We also offered our Iranian ambassador a similar proposal (at better times mind you – before sanctions), who replied that he had no staff to deal with it – being also a bit upset that we reported this in the press.

The role of the embassy is a major asset for any country in its business development and we are addressing this letter to the Minister of Commerce, as well as that of foreign Affairs Mr Christodoulides. 

On the contrary, we give credit to the U.K. High Commissioner in Cyprus who does not let a month go by without some sort of reminder of his/embassy presence and the needed exchange of views. 

Invitation of locals based on enquiries by U.K. firms, including lunches, questionnaire on our views on Brexit etc. 

Well done Mr High Commissioner and we hope that our own lot in this country copy your actions.

When the business associations in Cyprus realize this state of affairs (such as OEB-KEVE and others) they should pressure the government in hope that it will wake up our embassies abroad, especially those people who hold the title “commercial attaché”. 

We feel that it is time for a forum to be set up to establish a road map on the subject of Cyprus Business promotion through our embassies abroad in collaboration with CIPA and other bodies who have a duty to explore exports and Cyprus investments. 

For this to happen and be successful, those involved must have the aptitude and the energy to investigate the host country’s opportunities, to report back to the home country and set up meetings with local commercial representatives say every 6 months. 

With the low deposit rates that prevail, there must be businesses with cash which might be looking for “unknown” countries in the investment field (such as Cyprus) to investigate.

Will it happen? We very much doubt it – the Cyprus civil service is indifferent – look at the Halloumi trademark disaster as an indication (and for which there were no repercussions).

Staying with the happy-go-lucky holiday spirit, we must report our encounter with a prospective film producer from the U.S.A. 

He was exploring the possibility of producing films in Cyprus with the main attraction being that 30% rebate plus the tax benefits etc. 

It was explained to us that the setting up of such film studios comes with a “whole village” of people and trades, from electricians to carpenters, vehicles to rent, make-up and hair artists and so on.

We ended up in the Kornos/Shia area, where there is an operational studio.  Having had lunch at a local restaurant, on our way back we had a call from our Kornos/Shia associate who informed us that the asking price for real estate has shot up, whereas the local priest voiced his objections that the village will be occupied with mini-skirted women, upsetting the local population and family life. 

The deal is not yet off, pending government approval for the license, but it shows you how local attitudes, be they antiquated, can prevent the export industry (next time we will take such prospective investors to the Archbishopric real estate office!!).