Greece, Cyprus on economic ties

[Tsontos]

Greece, Cyprus on economic ties

4/8/08

Greece and Cyprus agreed on Monday to further strengthen their economic and trade ties, during a meeting in Athens between Economy and Finance Minister George Alogoskoufis and visiting Cyprus Finance Minister Charilaos Stavrakis.

Speaking to reporters after the meeting, Alogoskoufis said they discussed ways of boosting bilateral economic and trade relations.

The Cyprus economy, he added, had marked immense progress in recent years, and was one of the first countries among the EU's new member states to join the eurozone.

"We have many common points, and both economies are founded on extroversion," Alogoskoufis said, adding that he had invited Stavrakis, at the head of a delegation, for talks here aimed at further strengthening the relations between the two countries.

He said that prospects for expanding relations in the framework of the wider region of southeastern Europe would be examined.

On his part, Stavrakis said that the commercial and economic relations between the two countries were very strong, adding that it was only natural that his first visit abroad, as Cyprus' new finance minister, was to Greece.

Both countries have comparative advantages, Stavrakis said: "Greece has stong ties in SE Europe, and Cyprus with Russia and the Ukraine. Our cooperation will continue also via joint enterprises, to the benefit of the Cypriot and the Greek economies."

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