It is with great pleasure and satisfaction that I participate in today's first "Famagusta Business Forum", co-organized by the Famagusta and Piraeus Chambers of Commerce and Industry on the occasion of the 50th anniversary of their twinning.
This is, undoubtedly, a particularly remarkable initiative, which succeeds in promoting cooperation between Cypriot and Greek businessmen and, at the same time, promotes the great development potential of Cyprus and, in particular, Famagusta. I believe that the choice of this particular venue, this state-of-the-art Event Centre of Ayia Napa Marina, is also excellent, showing exactly the dynamics and vision of our country.
Thanking the organizers for their hard work and kind invitation, I welcome to Cyprus the dignitaries and representatives of the business community from Greece and wish them a pleasant stay in our hospitable island.
Dear Friends,
The constructive discussion that I am sure will take place during the Forum's proceedings, regarding the multiple challenges created for "Doing Business in the Age of Crises", is of particular importance in the difficult period we are going through, due to the impact of both the pandemic and the war in Ukraine.
As the Government, we fully recognize the necessity of immediate adaptation to the new data that make up the current trade and investment environment, closely monitoring and evaluating the various parameters, with the aim of formulating and implementing targeted measures. In this context, our key priority at the Ministry of Energy, Trade and Industry is to support entrepreneurship and, in particular, small and medium-sized enterprises that form the backbone of the Cypriot economy, seeking to enhance Cyprus' growth prospects through the improvement and strengthening of the existing business ecosystem.
Guided by the National Recovery and Resilience Plan "Cyprus _ Tomorrow", the Government and social partners, including of course the Chamber of Commerce of Famagusta, are working collectively for the recovery of the economy and the rapid transition of our country to green and sustainable growth. I mention, for example, the funds secured by our Ministry from the European funds for direct or indirect support to businesses, which will exceed €540 million for the 2021-2027 programming period. In 2021, we announced €130 million in Grant Schemes, while in 2022 the corresponding amount will reach €155 million.
At the same time, of course, our State's efforts to address the unpleasant consequences of fuel and electricity price increases for citizens and businesses are ongoing. Since last September, when due to the pandemic we were faced with significant increases in the fuel sector, we immediately took compensatory measures. First, we implemented a 10% across-the-board reduction in electricity tariffs for households and businesses. This was followed in November by a reduction in VAT to 5% for vulnerable consumers and 9% for other households, measures which are still being implemented given the crisis caused by Russia's invasion of Ukraine. At the same time, it was decided to reduce the excise duty on fuel to the minimum level allowed under the relevant European Directive.
In addition to the above, for 2021 and 2022, a number of Subsidy Schemes have been announced, aiming to shift to green energy and reduce the cost of electricity for consumers in the long term, such as. [*]Replacement of household appliances for vulnerable consumers, €5 million [*]Energy upgrading of businesses and NGOs, €40 million [*]Energy upgrading of local authorities, €9 million [*]Installation of photovoltaic panels for charging electric vehicles, €1.5 million [/LIST]
Ladies and Gentlemen,
In concluding my address, I could not fail to briefly mention the trade between Cyprus and Greece, which in the 12 months of 2021 again remained at high levels. In particular, Cyprus continued to prefer imports of Greek products last year, while Greece remained the second export destination for Cypriot products, after the United Kingdom. With exports of Cypriot products to Greece increasing by around 9% in 2021 to reach €252 million and, respectively, imports of Greek products to Cyprus amounting to €2.04 billion, an increase of 21%, we see today - even in these adverse conditions of the pandemic - the efforts that the two countries have been making in recent years to continuously strengthen trade contacts between us being rewarded.
In addition, we believe that in the case of Cyprus and Greece, the countervailing factors in terms of the impact on bilateral trade of the effects of the war in Ukraine are both our geographical proximity and the breadth and well-established framework of our trade relations.
On behalf of the Government, therefore, I would like to assure those present and, in particular, the members of the Famagusta and Piraeus Chambers of Commerce and Industry, that we are ready to assist in efforts to strengthen cooperation between the business communities of Cyprus and Greece. Our ultimate goal is to achieve full exploitation of the opportunities that have been created in our countries and the wider region, both in traditional sectors, such as services and trade, and in cutting-edge sectors, such as renewable energy, intellectual property issues and the promotion of start-ups. It is also our intention to intensify activities to develop closer relations between the Chambers of Cyprus and Greece.
To achieve our goals, we are certainly open to suggestions and new ideas, as we wish to find the best possible solutions, under the circumstances, to the multiple challenges we face.
I wish, in closing, every success in the proceedings of the first Famagusta Business Forum and to all participants always the best.
(GA)
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