Cyprus wants to boost business ties with Latvia

The Cyprus Government is ready to give its full support and encouragement to any serious cooperation between Cypriot and Latvian companies, Cyprus Minister of Commerce, Industry and Tourism Antonis Michaelides said, addressing a Cyprus- Latvia Business Forum, organized by the Cyprus Chamber of Commerce and Industry and the Latvian Investment Promotion Agency and attended by the Latvian Minister for Economics Jurijs Strods and businessmen from Latvia.
Michaelides expressed certainty that this business forum will result in successful business cooperation between Cypriot and Latvian companies and stressed that the Government is seeking through various policies to capitalise on the island’s unique strategic geographical location and to develop Cyprus into an ideal centre for both local and international business activities in the Eastern Mediterranean
He also noted that the presence of Latvian businessmen in Cyprus “gives to us great joy and increases our hopes for a much closer and fruitful cooperation between our two countries in many areas of common interest”.
Michaelides expressed that belief that the European Union provides the ideal platform for further strengthening, not only the political, but also the trade and economic relations between our two countries.
“In this respect I would like to reassure you that the Cyprus Government will work with all its strength towards achieving this objective,” he added.
He noted that the introduction of Euro in Cyprus on the 1st of January 2008 is expected to have positive effects on the Cyprus economy including the reduction in cost of foreign trade transactions and in foreign exchange rate risk and will ensure price transparency through increased competition and macroeconomic stability.