News Economy Anastasiades: Cyprus exports improved throughout 2015

Anastasiades: Cyprus exports improved throughout 2015

Cyprus’ exports continued to improve in 2015, marking an 11 per cent increase during the first ten months of the year compared to the same period in 2014.
President Nicos Anastasiades said on Friday, while handing over the Cyprus Export Awards for 2014 to seven Cypriot companies, that the country continues to focus its efforts on traditional markets, while trying to penetrate new markets, such as Iran, India and China.
Speaking more broadly on the Cypriot economy, he said that the foundations were laid in order to conclude the financial consolidation programme on time - a programme which Cyprus has been implementing since 2013 - thus bringing rising unemployment to a halt.
According to the data available, domestic exports of goods increased from 617 million euros during the first ten months of 2014, to 686 million euros in the corresponding period of 2015.
During the same period, total exports of services valued 5.9 billion in 2015, marking an increase of 4.5 per cent compared to 2014.
"In today’s ceremony we are awarding this prize to Cypriot companies that managed in 2014 to have an exceptional export performance, despite tough economic conditions," Anastasiades said. He added that the prize-giving coincides with the beginning of a new era for Cyprus’ development, with the conclusion of Cyprus’ programme due in March.
In less than three years - when the programme was adopted in cooperation with Cyprus’ international lenders – the country managed to reverse all negative projections, producing an annual growth rate of 1.6 per cent in 2015, the President added.
He urged that efforts should continue in 2016, while calling the private sector “the key to achieve our common goals.”
The event was organised by the Ministry of Energy, Commerce, Industry and Tourism and the Cyprus Chamber of Commerce and Industry (CCCI).
Addressing the same event, Phidias Pilides, the President of the CCCI, noted that exports comprise the main pillar for all economies, especially amid the financial crisis of the past couple of years.
He expressed satisfaction over the positive course of Cypriot exports during the last few years, noting that local companies managed to overcome a series of problems and contribute to the country’s development
Panayiotis Loizides, the President of the Prize Selection Committee noted forthcoming positive developments, both in the country’s economy as well as in its public finances. He also voiced his concern about problems affecting the real economy, which he said are affecting the activity of the private sector and need to be addressed.
Loizides also announced the seven award-winning companies, which include Firepro Systems, Remedica, Petrou Bros Dairy Products, Roha Premium Potato, Charalambides Christis, Michael Kyprinou & Co and Medochemie.
Company representatives were handed their prizes by President Anastasiades, in the presence of Energy Minister Yiorgos Lakkotrypis and CCCI officials.
Source: CNA