Cyprus News Agency: News in English, 11-12-02

Cyprus News Agency: News in English Directory - Previous Article - Next Article

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

CONTENTS

[01] Documents for 2nd licensing round being prepared

[02] Minister: exploratory drilling going well

[03] Greeks determined to overcome crisis

[04] Cyprus to be evaluated for Schengen

[01] Documents for 2nd licensing round being prepared

In statements to the press, in the margins of an event titled Investment Opportunities in a Changing Greece, organized here today by the Greek Embassy in Nicosia, the Minister said that by the end of December the documents will be sent to the EU for translation, and then they will be published in the official gazettes of the EU and the Government of Cyprus.

A three-month period will be given to interested companies, to prepare and submit their proposals, according to an EU Directive, Antoniadou explained. At the end of this period, the Ministry will process the Expressions of Interest submitted and will then proceed to negotiations on the basis of the criteria provided by the EU Directive and Cyprus legislation.

Antoniadou repeated that the results of the exploratory drilling, which commenced offshore Cyprus last September, are expected later in December, adding that a group of experts advises the President and the Government in relation to the broader strategic planning and particularly the issues relating to the infrastructure for the exploitation of the reserves likely to be found ashore Cyprus.

[02] Minister: exploratory drilling going well

``Everything goes smoothly, everything operates smoothly, the work is going on, and we hope to have results soon,`` the Minister said answering a question.

[03] Greeks determined to overcome crisis

Addressing a working lunch titled ``Investment opportunities in a changing Greece``, Papaioannou said that ``despite the mistakes and delays, the difficulties, great and painful, we will tackle them and we will not let any circles bet on bankruptcy or the country`s exit from the Eurozone,`` adding that ``our aim is stability, development, progress and prosperity.``

Referring to bilateral economic relations, he said Greece remains Cyprus` main supplier of consumer goods, with bilateral trade increasing by 7.6% in 2010, compared to 2009, while direct investments in Cyprus are calculated by the Central Bank of Cyprus at 940 million euros for 2010, recording an increase of 21.4% compared to 2009.

Papaioannou noted that Greece remains a shipping power globally, covering 41.49% of European shipping. Furthermore, its contribution to the Greek economy in 2010 reached 140 billion euros, an amount three-and-a-half times larger than EU funds for the country.

[04] Cyprus to be evaluated for Schengen

Speaking to the press, Zenonos explained that according to a decision taken recently by the Cabinet, preparations by the Foreign Ministry as well as the other Ministries and Services of the Republic, must be concluded by December 31, 2013 so that Cyprus can be evaluated by the Commission.

The aim is for Cyprus to join the Treaty by 2016.

Cyprus has already been evaluated in two areas out of a total of five that are set as prerequisite to join the pact.

Cyprus News Agency: News in English Directory - Previous Article - Next Article