The China Enterprises Chamber in Cyprus (CECC) held its founding assembly in Limassol on Wednesday evening, with a view to strengthening business ties between Cyprus and China.

The establishment of the CECC was welcomed by the Minister of Labour and Social Insurance, Yiannis Panayiotou, and the Chinese Ambassador to Cyprus, Liu Yantao, who expressed their confidence that the Chamber will contribute significantly to strengthening friendship and business cooperation between the two countries.

In his address, the Minister of Labour wished the new initiative every success, expressing his confidence that “the long tradition of friendship and cooperation between our countries and peoples will continue in the same direction.”

We are confident, he continued, that the experience gained in developing this sincere and close cooperation at various levels will guide the future of the Chamber and expressed his belief that “it will gradually evolve into an important institution with a leading role in Cyprus-China business relations.”

He expressed his certainty that “the continuously developing Cypriot economy will be a very attractive destination for the Chinese business community.”

The Chinese Chamber of Commerce in Cyprus has a glorious mission and an important responsibility, said the Chinese Ambassador, adding that it is expected to be a strong supporter of friendship and cooperation between China and Cyprus.

Cooperation between businesspeople from the two countries is vital, he added, noting that “the CECC must become a trusted friend of businesspeople and a bridge for cooperation, contributing to the further deepening of ties between the two peoples.”

Yantao also referred to the common challenges facing the two countries, as well as the European Union, saying that “in today’s complex global landscape, characterised by geopolitical tensions, growing unilateralism and protectionism, the risk of a global economic slowdown has increased significantly.”

“We must jointly uphold the World Trade Organization system and the rules of free trade, strengthen mutual openness and mutually beneficial cooperation, contribute to the development of China-Cyprus relations and those between China and the EU, and bring more stability and positive energy to the global economy,” he added.

Furthermore, CECC President Wang Wenxu said that the Chamber’s mission is based on ambition, strengthened by unity, and aims at mutually beneficial cooperation.

Our goal, he continued, is “to strengthen cooperation with Cypriot businesses, trade organizations, and government agencies, actively contributing to the local economy and society and promoting China-Cyprus cooperation in practice.”

Recalling that Cyprus is at the crossroads of three continents and a key hub for Europe, in the Chinese initiative “One Belt, One Road,” Wenxu said that the its continuous development in infrastructure, green energy, and the digital economy opens up a wide field of cooperation between the business communities of the two countries.