ADDRESS BY THE PRESIDENT OF THE HOUSE OF REPRESENTATIVES, MR DEMETRIS SYLLOURIS, AT THE MEETING OF THE STANDING COMMITTEE ON ECONOMY AND SUSTAINABLE DEVELOPMENT OF THE ASIAN PARLIAMENTARY ASSEMBLY, COLUMBIA BEACH RESORT - Tuesday, 26 June 2018, at 09:30

Honourable Representatives of Parliamentary Parties, 
Dear Ambassadors,
Dear Delegates,
Ladies and Gentlemen, 
It is with great honour that I address today the Meeting of the Standing Committee on Economy and Sustainable Development of the Asian Parliamentary Assembly, that will be presided over by its Chairman and Vice Chairman of the Assembly, Mr. Nicos Tornaritis. 
It is obvious that the Committee in which you participate deals with matters of vital importance, as also seen through the Resolutions that you will work on in the next two days. The environment, the implementation of the UN Sustainable Development Goals and water resources management are all matters our Parliaments deal with methodically, so as to overcome challenges that we are facing. At the same time, energy, including management of energy resources, the integration of Asia’s energy market and the promotion of renewable energy sources, are also high on our countries’ agendas and the fact that we are dealing with them indicates the contribution parliamentary economic diplomacy can have in the whole effort. 

Regarding the economy sector, Cyprus, having recently overcome the economic crisis, constitutes once more an attractive investment destination. It also remains an international maritime hub, having a considerable register, the third largest in the European Union and the tenth in the world, as well as an important and continuously improving infrastructure. Tourism continues to flourish, while the creation of start-ups is well on the rise.  

Important cooperation with investors from Asia is being developed, among others, in the civil aviation sector, communications, hospitality business, marinas, other infrastructure and renewable energy. Asian investment funds, which are increasingly active, use Cyprus as a base to enter the European market. An excellent example of cooperation and development of common infrastructures with Asia is the EuroAsia Interconnector, which will soon connect Asia with Cyprus through a submarine power cable. Our accession to the Asian Infrastructure Investment Bank is indicative of our commitment to the promotion of economic relations with Asia. In addition, we are very proud to welcome more and more students from Asia to Cypriot universities.

Located at the crossroads of Asia, Europe and Africa, Cyprus can play a central role in the active promotion of the Asian Parliamentary Assembly’s goals, aspiring to also work as a bridge for further enhancing ties and cooperation, at least between Asia and Europe, if not with Africa as well. Our participation in the European Union has shown us that economic cooperation and interdependence can constitute a base for peace, stability and prosperity.

All that considered, Cyprus also aspires to become an active player in the thrust of the initiative “One Zone, one Road”, actively promoting in the EU framework the interconnection of major maritime routes and trans-border infrastructure between the Mediterranean and the Maritime Silk Road. Particularly in light of the important oil and gas findings in its Exclusive Economic Zone, Cyprus can operate as an energy center for the wider area, as an interregional maritime and energy hub between Europe and Asia, as well as a supplier of the Asia energy market, the biggest and one of the fastest growing in the world.

This is why Cyprus condemns the unacceptable violations of its sovereign rights within its Exclusive Economic Zone (EEZ) by Turkey, which not only constitute violations of international legality, but aim in parallel at lifting the trust of international companies active in the region (including Asian behemoths) and at undermining our efforts for regional economic cooperation.

Distinguished guests, dear participants,
In concluding, I should not omit to address a special word of appreciation to the President of the Standing Committee, Mr. Nicos Toranritis, thanks to the efforts of whom this Committee of the Asian Parliamentary Assembly meets in Cyprus for the first time. My thanks also go to the Deputy Secretary General of the Assembly, Dr Ali Khorram, for his valuable contribution.

I wish you good and productive deliberations, as well as to enjoy, as much as possible, the beauties of our island and Cyprus’s hospitality. I declare the proceedings of the APA Standing Committee on Economy and Sustainable Development open and I wish you every success!