Cyprus News Agency: News in English (AM), 99-06-11

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

CONTENTS

[01] Cyprus - China - Trade

[02] Parliament - Anti-corruption bill

[03] G8 - Cyprus

[04] Cyprus Stock Exchange

1000:CYPPRESS:01

[01] Cyprus - China - Trade

Shanghai, Jun 11 (CNA) -- The Cyprus Chamber of Commerce and Industry (KEVE) and the China Council for the Promotion of International Trade have decided to promote a six-year cooperation protocol, to renew the previous agreement.

After talks in China, it is now almost certain that the Cyprus Ministry of Commerce, Industry and Tourism, together with the Chamber of Commerce, will organise a trade mission to China in the year 2000.

Christakis Georgiades, KEVE Vice-President, who is in China as a member of the delegation accompanying President Glafcos Clerides on his state visit, told the CNA that the aim of the trip was to "explore the market" and find ways to cooperate with China, in the trade and economic sectors.

Georgiades said China is a huge market and that "we must find ways to enter" this market.

He added Cyprus and China could cooperate mainly in the service sector, such as shipping, banking and offshore companies, as well as trade.

Meanwhile, Cyprus' Ministers of Finance and Commerce, Industry and Tourism, Takis Klerides and Nicos Rolandis, who accompany President Clerides visited today the Shanghai Lu Jiazui Finance and Trade Zone.

Klerides said the zone is a vast project and an area where about one million people are employed.

Meanwhile, President Glafcos Clerides addressed a Sino-Cyprus business seminar held in Shanghai, urging Chinese businesspeople to explore the advantages offered by Cyprus.

He referred to Cyprus' significance as an international business centre in the Eastern Mediterranean and assured Chinese businesspeople of the government's "continuous support and assistance".

The seminar was attended by more than 60 Chinese businesspeople, who were also introduced to the facilities offered by Cyprus through a video presentation under the title "Cyprus - The Business Profile".

CNA MA/RG/GP/1999

ENDS, CYPRUS NEWS AGENCY

1005:CYPPRESS:02

[02] Parliament - Anti-corruption bill

The law was passed with 26 votes in favour, 4 against, and 4 abstentions.

The aim of the new law is to prevent top government officers and directors of media and semi-governmental organisations from abusing their position for personal financial gain.

Those concerned will have to declare their wealth to a specially appointed five-member watchdog body within three months of taking up an appointment and will have to make a fresh statement after every three years in a position and three months after leaving the post.

CNA RG/GP/1999

ENDS, CYPRUS NEWS AGENCY

1020:CYPPRESS:03

[03] G8 - Cyprus

The G8 Ministers "reiterate our support for UN efforts to reach a comprehensive settlement on the Cyprus problem on the basis of the relevant resolutions of the UN Security Council."

They recommend the G8 summit leaders urge the UN Secretary-General to invite the leaders of the two communities in Cyprus "to enter into comprehensive negotiations, without preconditions."

They "urge all those concerned to avoid any measures that could increase tensions on the island and complicate efforts to promote a just and lasting peace."

Cyprus Acting Government Spokesman Spyros Arotis, in a written statement, said "our side has repeatedly express its readiness to proceed, without conditions, to negotiations with the other side, for finding a comprehensive solution (of the Cyprus problem), in accordance with the relevant Security Council resolutions, as exactly the G8 support."

At the same time, Arotis said "we avoid - as we have proved in practice with President Clerides' decision regarding (the non-deployment in Cyprus of) the S300 (surface-to-air) missiles - any measures that could increase tension on the island and complicate efforts for promoting a just and lasting peace."

The Cypriot official said the Cyprus government "believes that this time the international community, within the framework of the United Nations, should more systematically and decisively exert its influence on the Turkish side for finding a comprehensive solution, based on the UN principles.

So, there will cease to be a dangerous hotbed, which for decades threatens stability in the wider region," Arotis added.

Turkish troops have been occupying 37 per cent of Cyprus territory since 1974, in violation of repeated UN resolutions calling for their withdrawal.

CNA GP/1999

ENDS, CYPRUS NEWS AGENCY

1400:CYPPRESS:04

[04] Cyprus Stock Exchange

      CSE General Index                         153.54 ( 1.37)

      Traded Value            CYP  9,387,095

      Sectural Indices

      Banks                   CYP 3,622,480     207.74 ( 1.04)
      Approved Investment
      Companies               CYP   177,264      77.72 ( 1.95)
      Insurance Companies     CYP 1,075,841      84.95 ( 6.24)
      Manufacturing Companies CYP   473,179      87.48 ( 1.10)
      Tourism Companies       CYP   487,122     106.34 ( 1.60)
      Trading Companies       CYP   618,509      60.46 ( 2.86)
      Other Companies         CYP   564,813      97.85 ( 2.07)

CNA MCH/1999

ENDS, CYPRUS NEWS AGENCY

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