Mr. Chris Michael organized and hosted the yearly Business Forum in Nicosia on 26thMay, 2019.
This event was held under the auspices of H.E. the Ambassador of the Peoples Republic of China, Mr. Huang Xingyuan.
The event was also attended by the Former Minister of Foreign Affairs, Mr. George Iacovou, the Deputy Chief of Mission of the Indian High Commission, Mr. Manoj Kumar. Also, the Deputy Minister of Tourism, Mr.SavvasPerdios.
Present, were people from the political and economic sectors, foreign diplomats and business people.
The event was a great success.
The participants of the event were Aristo Developers, DFK Demetriou Trapezaris Ltd, Karma Group and Makkas Winery. All participants, gave excellent presentations which impressed the audience.
At the start of the event, a brief address was given on behalf of the host, Mr. Chris Michael: as follows:
Mr. Chris Michael has been organising many events such as this for many years. As a journalist and also as President of different Associations, he has always strived to improve relations between Cyprus and many countries, especially, China and India.
During the economic crisis and the haircut of various Chinese investors, Mr. Chris Michael, with the cooperation of the previous Commercial Counsellor, Mr. Wang Yaping, played a major role in encouraging Chinese investors to trust the Cyprus economy and to continue promoting Cyprus as a secure and safe place to invest.
Chris Michael says, Cyprus has weathered many obstacles in the past, but with the contribution of Foreign Investors rising steadily, a record breaking year in tourism and the futureprospect of Cyprus becoming an oil and gas centre, the optimism for growth and future prosperity looks very bright for Cyprus.
He would also like to thank the Chinese and Indian participants.
Following the address of Mr. Chris Michael, there was a speech given by H.E. the Ambassador of the Peoples Republic of China, Mr. Huang Xingyuan, as follows, both in the English and Chinese language:
Speech by Ambassador Huang Xingyua
“Ladies and Gentlemen,
Good evening๏ผ
Itโs a pleasure to attend the 2019 International Business Forum and I would like to express my appreciations to the organizerโs excellent preparations. The international business goes hand in hand with the economic globalization and they are both based on openness, cooperation and mutual benefit.
As you all know, the largest two economies of the world have presented the world with two totally different gifts nowadays. One is the Second Belt and Road Forum for International Cooperation recently held in Beijing, the other is the trade war waged by Washington.
Thanks to the Belt and Road, we believe the prospect for international business cooperation is bright. Chinaโs Belt and Road Initiative provides such an opportunity and platform for the world. In the end of April, I accompanied President Anastasiades to visit China and attended the second Belt and Road Forum for International Cooperation in Beijing. Leaders from 38 countries attended the summit, 283 deliverable were reached and deals worth over 64 billion USD were signed. The fact that President Anastasiades gave up Easter Holiday to visit China and was the first foreign leader to arrive in Beijing for the summit speaks a lot about Cyprusโ strategic and broad visions. According to President Xi Jinping, Cyprus is an important player in building the belt and road. The Chinese side would like to cooperate with the Cypriot side in sectors such as ports, shipping and infrastructure construction, and would like explore the possibility of conducting third party cooperation in the Mediterranean region. According to President Anastasiades, Cyprus will actively participate in the building of the Belt and Road, promoting EuroAsia connectivity and achieving mutual benefit and win-win cooperation. The two leaders witnessed the signing of an MOU on Belt and Road cooperation, which marks Cyprusโ formally a member among the circle of friends for BRI cooperation and a new phase in China-Cyprus relations.
Also thanks to the trade war launched by America, I have to admit the road forward for international business cooperation will not always be smooth. We know not all countries are open enough to consult and cooperate with other countries, let alone sharing benefits with other countries. What we did not expect was how far away Americaโs China Policy would go from the correct path. China has a population of 1.3 billion and Chinese people have every right to pursue a happy and affluent life. China has contributed over 30% to the world economic growth and the number of citizens China has lifted out of poverty accounts for 70% of the worldโs total. The international community expect Chinese economy to continue grow. ย However, out of a protectionist mindset that would only make itself great without letting others grow ahead of it, America has waged a trade war against China. The core concept behind the war is zero-sum mindset and beggar-thy-neighbour. This is detrimental to both China and the whole worldโs interests, harmful to international business cooperation, and poses challenges to the growth of world economy.
As the two biggest economies in the world, the economic and trade relationship between China and the US is of great significance to the global economy. The US should have worked with China and shouldered its responsibilities for global growth. On the contrary, what we see now is a US that is extremely selfish and act against rules, a US that blocks tech companies through executive actions and extreme bullying, a US that repeatedly resorts to maximum pressuring and makes troubles at will, and a US that reneges on its own promises and withdraws from international treaties. We have every reason to worry about the prospect of international business cooperation and the world economy.
We do not agree that trade war is the solution to trade imbalances. China never intentionally pursues trade surpluses and sincerely hopes to import more American goods with competitive advantages. China is continuously opening up its gate, even hold the import expo which is a world first. If America eased their restrictions on exporting civilian high-tech products to China, the trade deficit could immediately be reduced by around 35%. If the US hadnโt backtracked on their promises, the China-US negotiations could have already reached an agreement. The ball is in the court of America, how can America blame China for this?
We also do not agree that the US suffers losses in cooperation with China. American companies are at the higher end of the global value chain while Chinese companies are at the lower or lower middle end, earning only the processing fees. It is more accurate to say that although China enjoys a trade surplus with America, America enjoys a profit surplus with China.
On the surface the war is about the trade friction. In fact it is a war between rule-based order and power politics, between multilateralism and unilateralism, between free trade and protectionism, and between the win-win concept and zero-sum game mindset. The EU has always been a staunch supporter of free trade and multilateralism, and a guardian of the spirit of contract and international cooperation. To promote a healthy development of international business cooperation, our top priority now is to safeguard the international justice and oppose power politics and economic bullying. We should learn a lesson from The Smoot-Hawley Tariff Act, the PRISM program and Alstomโs takeover by GE. Watching the fire fom the other side of the river will only lead the fire to oneself, and appeasement will only harm the interest of oneself.
Ladies and gentlemen,
This year marks the 70th anniversary of the founding of PRC. After 70 yearsโ hard work, Chinese people has made remarkable achievements. No matter how many difficulties we are going to meet, China will always be here to stay. The Chinese economy is resilient enough, and the Chinese government has ample policy tools to ensure the sound and stable development of Chinese economy. The Chinese government is also willing to and determined to push forward the international business cooperation. We would like to open up further to countries including Cyprus, welcome Cyprus to expand trade relationship with China, making Halloumi cheese, wine and olive oil the favorite of Chinese consumers.
Lastly, I would like to wrap up my speech with a poem from Li Bai, a poet from Tang Dynasty: the screams of monkeys on both banks had scarcely ceased echoing in my ear, my skiff had left behind it ten thousand ranges of hills.”
