Cyprus PIO: News Update in English, 00-12-21

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From: The Republic of Cyprus Press and Information Office Server at <http://www.pio.gov.cy/>

Thursday, 21 December 2000

CONTENTS

• [01] Government Spokesman comments on White House report
• [02] Cyprus imports and exports increase

[01] Government Spokesman comments on White House report

"I wish to refer to this report, about which we were informed today, and to say that it is a 52-page report, which covers almost every country of the world, including the United States of America. Certain references are being made to Cyprus, but before making any comments on the substance, the Government will ask the American side to substantiate and clarify these references. The report will be studied by the competent services of the Republic and the Government and then the Government will announce its final position.

As regards some references to money laundering by offshore companies, included in the report, I wish to stress that the Republic of Cyprus has taken all the necessary measures and has adopted suggestions made by all the countries, which wish to combat money laundering. In view of the above, our legislation and policy, far from encouraging illicit transactions, discourage and combat them.

I was told by the Governor of the Central Bank of Cyprus that none of the authors of this report approached him or any other official of the Central Bank to seek clarifications or information on any issues concerning money laundering."

[02] Cyprus imports and exports increase

According to a report released by the Department of Statistics and Research on Foreign Trade Statistics for the period January-October 2000, total imports (covering imports for home consumption and imports placed into bonded warehouses) totalled CP1,951.9 million as compared with CP1,559 million in the same period in 1999. Total exports reached CP506.1 million in relation to CP450 million last year. The trade deficit accounted for CP 1,445.8 million compared to CP1,109 million in 1999.

Domestic exports including shipstores rose to 204.1 million as compared to CP174.2 million in January-October 1999. Re-exports including shipstores also increased to CP302.1 million compared to CP275.7 million in the same period last year.

During January-October 2000 the EU countries supplied Cyprus with goods valued at CP 1,008.8 million or 51.7 per cent. During the same period, the EU countries absorbed goods valued at CP 98.5 million or 52 per cent of Cyprus domestic exports excluding shipstores.

From the Republic of Cyprus Press and Information Office (PIO) Server at http://www.pio.gov.cy/

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