Cyprus News Agency: News in English (PM), 99-06-08

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From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] Cyprus - China - Finance Ministers

[02] President - National People's Congress

[03] Commerce Ministers - Cyprus - China

1735:CYPPRESS:01

[01] Cyprus - China - Finance Ministers

Beijing, Jun 8 (CNA) -- The Finance Ministers of Cyprus and China discussed here today practical ways to put into effect various existing agreements with a view to promote bilateral economic and trade relations.

Cyprus Finance Minister, Takis Klerides, said the meeting with his Chinese counterpart Xian Huai Cheng was "very friendly" and gave them a chance to exchange views about the European Union, in which Chinese officials have displayed keen interest.

"They see that more and more European countries enter into some sort of economic power and this causes concern in the political sphere. In other words, they are concerned about the EU becoming a separate superpower," Klerides said after the meeting.

Cyprus and China, he said, have agreed to press on with the implementation of an agreement to promote and protect investment between the two countries, which has been stagnant for some time now because of the exchange restrictions China has.

"We exchange views about ways to promote various joint ventures in the field of technology, which China possesses, and how these joint ventures can find their way into the EU," Klerides said, explaining that China would like to use Cyprus as a bridge to Europe.

Klerides said the two ministries have undertaken to examine ways to better implement an existing agreement on the avoidance of double taxation.

"The Chinese minister has committed himself to helping increase trade links, by submitting proposals to the cabinet and backing them through his vote," he said.

CNA MA/MM/MK/1999

ENDS, CYPRUS NEWS AGENCY

1850:CYPPRESS:02

[02] President - National People's Congress

Beijing, Jun 8 (CNA) -- President Glafcos Clerides' state visit to China will contribute to further promoting Sino-Cypriot relations, Li Peng, Chairman of the Standing Committee of the National People's Congress, has said.

Speaking after a meeting here today with President Clerides, Li Peng said the friendly relations between China and Cyprus and bilateral cooperation were "excellent."

Present at today's meeting were Cyprus Foreign Minister Ioannis Kasoulides, Finance Minister Takis Klerides and Commerce, Industry and Tourism Minister Nicos Rolandis, as well as other members of the Cypriot delegation accompanying President Clerides on his six-day state visit.

Clerides said one of the goals of his visit is to strengthen the excellent relations between Cyprus and China and to enhance economic, trade, tourism and cultural links.

Cyprus' Ambassador to China, Loria Markides, hosted what has been described as a "very successful" reception, on the occasion of the presidential visit, which was attended by Chinese deputy ministers and other government officials as well as members of the diplomatic corps.

CNA MA/MM/1999

ENDS, CYPRUS NEWS AGENCY

1920:CYPPRESS:03

[03] Commerce Ministers - Cyprus - China

Beijing, Jun 8 (CNA) -- China has shown keen interest in using Cyprus as a trade or industrial regional centre, according to Cyprus Commerce, Industry and Tourism Minister Nicos Rolandis.

Speaking after a meeting with his Chinese counterpart, Shi Guang-Sheng here today, Rolandis said they exchanged views on ways to improve bilateral trade links and means to achieve a better trade balance.

"We talked specifically about goods that could be exported from Cyprus, such as medicine," Rolandis said.

The Chinese officials displayed particular interest in how Cyprus could be used as a trade or industrial centre in the Middle East, North Africa and Europe.

China, he added, recognises the fact that Cyprus is to become a member of the European Union and "subsequently, if there are Chinese investments in Cyprus, the goods produced will be community products."

Rolandis said Chinese officials believe that "Cyprus could act as an axis for sales of goods in the region."

The minister said that even if a small part of China's trade went through Cyprus, it would be important for the country's economy.

CNA MA/MM/1999

ENDS, CYPRUS NEWS AGENCY

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