Gold Magazine December 2013 - January 2014, Issue 33 | Page 60

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CIBA Celebrates
its 20th Anniversary
‘Business As Usual’ the theme of the AGM

T

he Cyprus International
Businesses Association
(CIBA) recently held its
20th Annual General Meeting at Le Meridien Hotel in
Limassol. In his address, CIBA President
Frixos Savvides noted the theme of the 20th
anniversary gathering: Business As Usual.
“Normally such a sign is used for a business
undergoing repairs, reconstruction or refurbishment and the people working under
such circumstances are trying their best
to do their job and to continue providing
service under difficult conditions. Cyprus is
experiencing precisely that,” he said, before
elaborating: “We are going through a phase
of restructuring, reconstruction and a traumatic facelift of our banking system in particular and our economy in general. This
will, of course, be a very long, elaborate and
difficult process, during which all of us in
Cyprus – the Government, associations,
businessmen, people in general – have to
stay focused as far as International business
is concerned. We must concentrate our
efforts to try and retain what we already
have and, at the same time, encourage new
International business and investment into
Cyprus. We need to keep the momentum
going at all costs and we should all work
very hard to achieve this.”
The CIBA President referred to the
subject of bureaucracy in government departments, noting that “We know of the
Government’s commitment, in line with
European policy, to reduce bureaucracy or
as it is otherwise known, the ‘administrative burden’, possibly by outsourcing various services or by moving towards a more
electronic Government.” He assured the
President of the Republic that CIBA and

T

WHAT IS CIBA?

he Cyprus International
Businesses Association
(CIBA) was established
on 31 December 1992,
on the initiative of a
number of businessmen who had
based their international activities in
Cyprus, taking advantage of the island’s advantageous tax regime and
relaxed immigration policies as well
as the Mediterranean sunshine and a
high standard of living.
CIBA is a non-government, fully
independent association, financed
by membership fees only. Since its
formation, CIBA has gone to great
lengths to represent and safeguard
the interests of international businesses in Cyprus, their international
shareholders, managers and staff.
This may have been a fairly simple
task in the early years of the Association. Matters became more
complicated as EU membership negotiations with Brussels proceeded.
Joining the European Union required
substantial changes to almost every
aspect of business life in the country:
taxation, social insurance and immigration were but a few of the most
important issues.
CIBA’s task did not end with EU accession. Quite the contrary. Today,
more than ever, it is important to
keep a close eye on developments
that can and do affect the island’s
international business community.
The Association promotes its members’ interests and deal with issues
that complicate or hinder the daily
operations of their businesses and, at
the same time, plays a leading role in
promoting Cyprus as an international
business centre.

60 Gold the international investment, finance & professional services magazine of cyprus

its members are ready to provide ideas and
support to achieve this goal, which will
make life a lot easier for the foreign investor, especially during the present difficult
times and he expressed optimism that
Cyprus and its people will soon see better days.
In his own address to the AGM, President Nicos Anastasiades expressed the
Government’s appreciation for CIBA’s
support and said that he looked forward
“to deepening even further our ongoing
and mutually reinforcing cooperation,
for the future prosperity of Cyprus, its
economy and its people. My Government