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Message by the Trade Commissioner

The Cyprus Trade Center in New York is the Commercial section of our diplomatic representation in the United States, operating as an extended arm of the Ministry of Commerce, Industry and Tourism as one of only eleven such missions of the Republic of Cyprus around the world.

The Functions of the Trade Center have become increasingly diverse in recent years. In a globalized and interconnected world, the role of foreign trade representation has evolved by necessity into a private enterprise mindset of formulating cohesive and integrated strategies to create and capture value for stakeholders by fostering clear positioning of the country, its products and services, strengths and weaknesses, and the value proposition they present. The Trade Center is effectively the eyes and the ears of the business community in the marketplace and is an important strategic partner for connecting business to opportunities and assisting in the assessment of business risks.

Over the last decade and to the greatest degree since our accession to the European Union in 2004 a great many changes have taken place in the way the various sectors and industries of the Cyprus economy operate and subsequently how we are now positioned as part of the global economy.

Cyprus has emerged as a forerunner with regard to international corporate holding jurisdictions destinations. We enjoy full EU membership with regulatory transparency and rule of law in place, as well as a simplified, effective and transparent tax system that is fully compliant with the EU, the Financial Action Task Force on Money Laundering (FATF), the Organization for Economic Co-operation and Development (OECD) and the Financial Stability Forum.

For the Cyprus government, attracting and fostering foreign investment is amongst the prime objectives of its development policy. Moreover, this encouragement of foreign participation in the Island’s economy is equally supported by the private sector and the Cypriot people themselves.

As such, a highly favourable environment for all forms of inward and transitional business activity and foreign investment has been created to ensure an infrastructure which has the maximum potential for success and growth.

-    Our Strategic location as the South-Easternmost point of the European Union at the crossroads of Europe, Asia and Africa;

-    political stability and respectability;

-    strong and favourable relationships with countries in the region and beyond which includes tax treaties with over 40 countries;

-    favourable tax incentives;

-    low operating costs and cutting edge telecommunications and infrastructure;

… are but a few of the benefits that Cyprus has to offer making it an ideal location for international business and investment.

Within the context of the prevailing international economic climate, the need to better function within the perspective of an ever increasing  globalized environment has never been more profound. Cyprus, as a dynamic, flexible and adaptive economy, has seriously taken up this challenge and has worked extensively to ensure we function with clarity and transparency among both our EU neighbors and partners abroad.

In the immortal words of William Shakespeare

“You are welcome, Sir, to Cyprus” (Othello: Act 4, Scene 1)

Trade Commissioner Aristos Constantine