• Short Summary

    Exports are booming in Cyprus--they have risen from 27 million pounds sterling (65 million US dollars) in 1967 to more than 42 million pounds sterling (about 100 million US dollars) in 1971.

  • Description

    Exports are booming in Cyprus--they have risen from 27 million pounds sterling (65 million US dollars) in 1967 to more than 42 million pounds sterling (about 100 million US dollars) in 1971.

    But the expansion of the European Economic Community to include, among others, the United Kingdom, was a big threat to the island's export economy. However, an agreement has been reached which has lifted the gloom.

    Cyprus will continue to enjoy preferential treatment in its exports to the U.K.--18 million pounds worth a year, and will also benefit from tariff reductions on certain exports to other EEC countries. These are 70 per cent on manufactured goods, 40 per cent on citrus fruits and 100 per cent on carob beans.

    The important Cypriot sherry trade will also have special facilities. For three years E.E.C. special duties will not apply to sherry exported to the U.K., its main market.

    SYNOPSIS: Tanks full of Cyprus sherry--all of it destined for British palates, thanks to successful negotiations with the European Economic Community. The entire Cypriot wine Industry was threatened with disruption when Britain, its biggest customer, enters the Common Market on January 1. But last-minute arrangements were made to allow Cyprus to continue exporting its sherry into Britain without paying the extra tariffs it faced as a non-member of the European economic bloc. The arrangement will last three years.

    Other Cyprus exports have also been safeguarded following the economic negotiations. Industrial goods, the island's fastest-growing financial factor, will be allowed into Europe with a seventy per cent reduction in tariffs. The move will benefit this Nicosia knitwear factory for instance. It exports a hundred thousand pounds worth of goods a year into Europe. Without the special fiscal safeguards it could face closure, and the newly-trained staff could revert to seeking unskilled work on the overcrowded labour market. Cyprus has boosted its exports from twenty-seven million pounds to more than forty-two million in the last five years.

    Fruit is a traditional money-earner, and these growers in the Limassol region were relieved when a forty per cent cut in tariffs was negotiated. The discount was actually raised to a hundred per cent on carob beans, which are mainly exported for use as animal food. But to thousands of Cypriots who earn a living picking and grading grapefruit and oranges, it was the citrus fruit concession which was the most important outcome of the negotiations in Brussels. The representations were mainly conducted by Mr. John Christophides, the Cypriot foreign minister, who said the agreement would benefit both Turkish and Greek communities.

  • Tags

  • Data

    Film ID:
    VLVA8FWE0KGHXBHH33U7K2CFG7FJ
    Media URN:
    VLVA8FWE0KGHXBHH33U7K2CFG7FJ
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    27/12/1972
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:02:02:00
    Time in/Out:
    /
    Canister:
    N/A

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