Doing Business with the United States: Opportunities Beckon

Remarks by Ambassador Michael Klosson
Turkish Cypriot Chamber of Commerce Sponsored Seminar

November 8, 2004

 

Good afternoon:

 

Welcome to this seminar with experts from the U.S. Departments of Commerce and Agriculture on  “Doing Business with the U.S.”   We are very interested in expanding business ties across the board between the United States and Cyprus, and have arranged this seminar to discuss practical suggestions to do just that.  We want to hear your experiences, indicate how we could collaborate more closely and work to resolve any problems you may face.  The Cyprus American Business Association has been a strong partner in this regard and we are grateful for their sponsorship of this event. 

 

On May 1, Cyprus joined the largest economic relationship in the world.  As a new EU member, Cyprus joined both a common market that covers 25 countries and nearly 450 million people, and the transatlantic partnership between the United States and Europe.  The U.S. and EU share a $2 trillion dollar trade and investment relationship that has created millions of jobs on both sides of the Atlantic. 

 

While the U.S.-EU trade relationship is strong, we are not resting on our laurels.  In June we launched a process of consultations with all stakeholders in the U.S.-EU economic relationship -- businesses, consumers, unions, etc. -- on how we can make this vibrant relationship even stronger.  Both in the U.S. and Europe, we have been gathering views.  We welcome your comments.  We seek your active participation in developing new ideas for eliminating transatlantic trade, regulatory and investment impediments and for advancing new strategies for growth and innovation. 

 

Cyprus's EU accession provides both new challenges, but also new opportunities for our commercial relations.  The United States continues to maintain strong business and commercial ties with Cyprus.   

 

As the U.S. Ambassador, nothing pleases me more than to see the success of American business, services and products on the island.  Dozens of U.S. companies are represented here, including new ones set up over the past two years. In 2003, according to U.S. statistics, the U.S. exported $327 million worth of goods to Cyprus, making us Cyprus's eighth largest supplier of imports. In turn, Cyprus exported $25 million worth of goods to the United States, making the U.S. Cyprus's eighth largest export market.   Many Cypriot products, such as beverages and dairy products have done remarkably well in the U.S. in recent years.  For instance, it is now possible to buy Haloumi cheese in many U.S. grocery stores. 

 

Trade in goods is only one facet of our commercial relationship.   Over the last few years, the franchising sector, be it fast food, coffee, personal fitness, or athletic wear has experienced phenomenal growth.   There have also been numerous agreements between Cypriot and U.S. service providers -- from accounting firms to Internet providers.  When new opportunities emerge – such as with new government tenders or major private sector projects in areas such as golf courses or resorts – the Embassy will help bring them to the attention of potentially interested American companies.  If you seek American consulting, architectural, health or other services – many of which are world standard-setters -- let us know and we will help you find an appropriate source.

 

We are glad to see these business relationships grow and flourish as they reinforce the strong economic bond between our two countries.  As I have gone around Cyprus, I have been pleased to see how American service providers have made significant contributions in major sectors of Cyprus’ industry such as the design of world-class golf courses. The Embassy, and especially our Commercial and Economic sections, remains committed to help bilateral commercial ties grow and prosper here on the island.   As with the EU, we do not want to rest on our laurels and are constantly looking for ways to strengthen our commercial ties.                    

 

To assist with this goal, I am glad to present our two guest speakers – Amer Kayani from the U.S. Department of Commerce and Jim Higgiston from the U.S. Department of Agriculture -- who are here to assist all of you in your efforts to increase contacts with businesses in the U.S. 

 

Thank you all for coming and thank you to CyABA for co-hosting this event and to the Fulbright center for the use of this hall.