Cyprus News Agency: News in English, 11-03-28

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

CONTENTS

[01] CHRISTOFIAS INTERNATIONAL ARBITRATION

[02] CYPRUS VIOLATIONS BY TURKEY UN

[03] GREEK FM TURKEY

[04] CONFERENCE INTERNATIONAL ARBITRATION - CYPRUS

[01] CHRISTOFIAS INTERNATIONAL ARBITRATION

I am particularly satisfied to note the fact that among the Conferences aims is the recognition and confirmation of the capability of Cyprus to be highlighted as a regional international arbitration center for Europe and the region in general, he said. I am looking forward to the co-operation between the Cyprus National Committee and the International Chamber of Commerce with an aim to encourage and promote the implementation of this ambitious prospect, he added.

President Christofias said that the strategic position of Cyprus, its advantageous tax environment, the high educational level of its human resources, its advanced telecommunications and IT services as well as its modern banking and legal system are among the main reasons which have made Cyprus an ideal bridge of trade between three continents and one of the most important regional financial and business centers attracting foreign investments.

Today, he added thousands of international European, American and Asian businesses use Cyprus as their international operations base.

President of the Republic also noted that Cyprus legal framework which provides for international commercial arbitration procedures to take place in Cyprus as well as the high level of specialized in the particular field legal professionals add decisive weight to the possibility of Cyprus becoming an international arbitration center.

He also referred to the advantages of international commercial arbitration stating that these include flexibility in procedural rules, adaptability in the special circumstances of each case and the needs and wishes of the parties as well as speedy review of the dispute at hand and confidentiality.

[02] CYPRUS VIOLATIONS BY TURKEY UN

In a letter dated 15 March 2011 and addressed to the UN Secretary General Ban Ki moon, Cyprus Permanent Representative to the UN, Ambassador Minas Hadjimichael, protested the ongoing violations of the international air traffic regulations and the national airspace of the Republic of Cyprus by military aircraft of the Turkish Air Force, recorded from 1 December 2010 to 28 February 2011.

On behalf of my Government, I strongly protest the aforementioned continued abuses by Turkey and call for their immediate cessation, he underlines. Hadjimichael notes that these continuing violations by Turkey of the sovereignty and territorial integrity of the Republic of Cyprus undermine the peace and security of the entire region.

They are especially counterproductive in the current period of ongoing negotiations between the two communities in Cyprus, under the good offices mission of the Secretary-General, aimed at finding a just, lasting and peaceful solution to the Cyprus problem, he points out.

[03] GREEK FM TURKEY

In an interview published in Turkish newspaper ``Hurriyet``, Droutsas said ``no one understands why Turkey with 70 million people should be afraid of Cyprus with 750,000 people,`` adding that ``Turkey has nothing to lose by withdrawing its troops.``

He furthermore pointed out that the Turkish settlers and the Turkish army pose problems for the Turkish Cypriots, and that Greek Cypriots and Turkish Cypriots wish to live together in a reunified Cyprus. In the interview, Droutsas also referred to Greco-Turkish relations, and called on Turkey to sign the Convention for the Law of the Sea.

[04] CONFERENCE INTERNATIONAL ARBITRATION - CYPRUS

Addressing the conference, the President of the International Court of Arbitration John Beechy referred to the fact that thirty years ago Cyprus was viewed as a country someone who wanted to avoid arbitration would come to. Some thirty years later things seem to have changed and here we are with Cyprus seeking to put its credentials forward as a place in which to hold arbitrations and conduct them in a way which is equal to anything else in the world, he said.

Referring to the challenges international arbitration is faced with, Beechy said that users of arbitration are rarely credulous even if they are young but confidence - like a good reputation - takes a long time to earn and is quickly lost, highlighting the importance of conferences such as this one and pointing out that the workshop that follows the meeting is devoted to present practice and future trends in arbitration.

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