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Cyprus

Chamber of commerce to convene ‘Brexit meeting’ (Updated)

 

THE Paphos branch of the Chamber of Commerce and Industry (KEVE) have issued a statement aimed directly at the British community, to ‘convey their respect and sympathy for developments taking place’, following last week’s Brexit vote.

“We urge the government of Cyprus to follow closely the exit stages and to conclude bilateral agreements with Britain that will secure the present status of British citizens living in Cyprus, including freedom of movement and employment, residency, welfare and healthcare benefits and rights,” a statement on Wednesday said.

Meanwhile, KEVE has announced it is planning to convene a meeting with all stakeholders to discuss a Brexit’s potential effects on Cyprus.

KEVE said that in the next few days it will hold a meeting with accountants, lawyers and tourism officials to discuss ways of tackling possible negative effects of Britain leaving the EU.

The organisation also suggested setting up a committee of experts from the public and private sectors who will monitor developments, especially negotiations between the EU and the UK concerning their future relations.

The committee would make recommendations to the government and the private sector so that they could step in when necessary in bid to prevent negative effects on the Cypriot economy.

“Cyprus’ objective should first be to limit the fallout from a Brexit and to maintain the good financial and trade relations with Britain,” KEVE said.

On the other hand, according to KEVE, a Brexit created new opportunities for Cyprus, mainly through attracting companies that may decide to move their base from the UK.

To that aim, KEVE will organise a large delegation to visit Britain to promote the island’s comparative advantages.

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