2023-Cyprus-Country-Report
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
CYPRUSCOUNTRY REPORT <strong>2023</strong><br />
implementing targeted promotional actions to foster bilateral trade relations and<br />
business cooperation. The actions of the Ministry are reinforced via the work of our<br />
16 Trade Centres that operate abroad, covering more than 40 countries. For 2024 we<br />
will intensify efforts to design and implement policies in the field of trade, in order<br />
to enhance exports of Cypriot products and services and promote <strong>Cyprus</strong> as an<br />
attractive business and investment centre. In January 2026, <strong>Cyprus</strong> will be taking on<br />
the presidency of the Council of the EU, therefore 2024 will also be the year to start the<br />
groundwork to be fully ready and prepared.<br />
Another key part of the Ministry’s portfolio is the protection of consumers, which is<br />
particularly important today due to the unforeseen economic challenges of the past<br />
two or three years, caused by the pandemic and the war in Ukraine. Our main objective<br />
is to empower consumers and strengthen their protection, inter alia by ensuring<br />
enforcement of relevant legislation, enhancing consumer safety and improving<br />
information and education of both consumers and businesses. Without being<br />
exhaustive, the list of actions we take towards this end includes: consumer complaint<br />
handling, market monitoring, price transparency, international and European<br />
cooperation, market research and coordination with competent authorities, ensuring<br />
the safety of products (non-food), which<br />
meet the strict rules established by the<br />
EU, informing and educating consumers<br />
about their rights, as well as businesses<br />
about their respective obligations,<br />
improving cooperation with consumer<br />
organisations and other stakeholders and<br />
the effective use of new communication<br />
channels and new technologies.<br />
Overall, <strong>Cyprus</strong> has made, over the past<br />
IOur Ministry is supporting<br />
our island’s thriving business<br />
community by implementing<br />
targeted promotional actions to<br />
foster bilateral trade relations<br />
and business cooperation.<br />
few years, huge strides in its efforts to earn a place on the energy map and to become<br />
an established hub for international business and investment. What we aspire for in<br />
2024, is that the strategy and policies we are implementing, will contribute towards the<br />
attainment of these goals, positively benefiting each and every one of the economic<br />
sectors falling under the Ministry’s portfolio. n<br />
46
Change language