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12° Nicosia,
25 June, 2024
 
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Cyprus-U.S. relations soar to historic highs as President pledges economic cooperation

President Christodoulides highlights growing ties, investment opportunities, and joint initiatives at AmCHAM thanksgiving gala

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President Nikos Christodoulides emphasized the government's commitment to strengthening economic ties, trade, and investment with the United States during the AmCHAM Cyprus Thanksgiving Gala Dinner in Nicosia. He highlighted the historic high in bilateral relations, citing flourishing cooperation in security, energy, defense, and education. Christodoulides stressed Cyprus' stability as a reliable partner in a complex region and outlined efforts to enhance the country's appeal for investment. The President addressed economic growth, recording a 2.2% increase in the third quarter, and outlined plans to revamp the Strategy for Attracting Investment and Talent.

Regarding concerns about money laundering and sanctions, Christodoulides expressed a strong commitment to fortifying legislative frameworks, with the U.S. providing a team of experts to assist in addressing these issues. Initiatives to strengthen economic relations include an Integrated Action Plan on Economic Diplomacy, featuring Cyprus' accession to the U.S. Visa Waiver Programme. The President expressed optimism for increased U.S. investments in Cyprus, citing a growing flow of capital.

U.S. Ambassador Julie Fisher commended the dynamic relationship between the U.S. and Cyprus, acknowledging deep commercial and economic ties. She highlighted joint efforts to strengthen banking and legal sector integrity, combat corruption, and align Cyprus with the transatlantic Consensus countering Russia. Fisher emphasized Cyprus as an inviting market for American tech companies and lauded U.S. firms leading hydrocarbon development in the Eastern Mediterranean.

AmCHAM President Georgios Georgiou emphasized the organization's focus on improving business relations between the U.S. and Cyprus. He highlighted increased U.S. investments in sectors like Energy, Technology, Healthcare, Transportation, and Real Estate. Georgiou praised the government's strategic priorities, including Visa Waiver Program approval, and called for updating the 40-year-old double tax treaty between Cyprus and the USA. The Cyprus Plan for the United States and the Partnership for Peace program were identified as key elements for future collaboration.

[Information sourced  from CNA]

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Cyprus  |  USA  |  business

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