President of the Republic Nikos Christodoulides said Sunday addressing an event in New York that he does not rule out significant developments towards the resumption of negotiations on the Cyprus issue.
He also said that major announcements concerning new investments by US corporate giants will be made in the immediate future.
Speaking at a meeting on the evening of September 20 with officials and members of the Federation of Cypriot American Organizations in New York, the President of the Republic said that ‘it is always a particular pleasure to meet with you. I have known most of you since 1993; 33 years have passed since I first came to New York.’
Christodoulides stressed that ‘this is a very full week, with the Cyprus issue dominating the meetings, and despite the prevailing sentiment – particularly in Cyprus – that there will be no developments, I do not rule out developments, indeed significant ones, towards the resumption of negotiations.’
The President of the Republic said that on Friday evening he would also give an assessment of the week.
‘I want us to discuss a number of issues regarding which, over these three and a half years – and I am genuinely pleased because there are results from our foreign policy – Cyprus, after many years, has once again become known in the United States for positive reasons, through our initiatives in the region and through a very successful Presidency [of the Council of the EU]. I am pleased because, for the first time since 2011, our economy is in the A category, having also been upgraded by Standard and Poor’s on Friday evening,’ he noted.
At a time when two wars are underway, the Cypriot economy is growing, the President of the Republic said. ‘We inherited public debt of around 80% of GDP; today it stands at 48% of GDP and is on a downward trajectory. We will reduce public debt even further, and we have budget surpluses.’
With regard to unemployment, he said that Cyprus is ‘experiencing conditions of full employment for the first time since 2008, with unemployment at around 3.6%-3.7%.’
‘And I am pleased because a major effort we made, which has produced results and to which you also contributed, was to achieve a significant increase in US investment in Cyprus. You will recall that last year I visited three states. We are seeing results, particularly in the technology sector,’ he said.
President Christodoulides announced that he would be back in the United States at the end of November and would take part in a Financial Times conference in New York on Cyprus.
‘For the first time, we will launch a campaign in New York aimed at bringing Cypriot talent back to Cyprus. Our brain gain campaign is producing results. There was a time when people left Cyprus to come and work in the United States; today, we want to bring people back to Cyprus,’ he stressed.
In addition to New York, he said he would visit Ohio, Boston and Florida for meetings with companies interested in investing in Cyprus.
Christodoulides said that in the immediate future there would also be some major announcements regarding new investments by US corporate giants.
‘Our economy is doing well. We are strengthening our country’s deterrent capability. Last Wednesday, we approved the 2027 budget at the Council of Ministers, with by far the largest increase allocated to the defence sector,’ he said.
He added that ‘the fact that the economy is doing well allows us to invest more in the defence of our country, to invest in education and healthcare. We have increased social spending, while at the same time addressing challenges. I remember that when I took office in 2023, Cyprus’ biggest problem was migration. Today, we are a model country when it comes to migration, with arrivals down by more than 90% and returns from our country up by more than 85%.’
Referring to Cyprus-US relations, the President of the Republic said that he had recently received the new US Ambassador.
‘For the first time, we have a political appointee in Cyprus, an Ambassador with personal ties to the US President. Based both on the discussion we had and on certain actions we saw immediately after he took office, I believe there is potential to further strengthen our relations. I will keep you informed so that we can coordinate our actions. After all, you were the first to begin this effort to strengthen relations, you were the first to believe in it, and I am pleased that, so many years later, we have achieved it,’ he said.
On his part, Federation President Kyriakos Papastylianou, welcoming the President of the Republic, said, among other things, that the President always keeps his appointment with the Cypriot diaspora. He noted that the issues to be discussed that evening would include the Cyprus issue, which is of particular concern to the diaspora, Cyprus-US relations, and how the diaspora can contribute to their further development.
The President of the Republic then spoke with members of the Cypriot community and answered their questions.