- Cyprus is the third largest island in the Mediterranean Sea, situated at the Crossroads of three continents and in the trading paths of the first merchants of antiquity.
- Cyprus' strategic location has been a major factor in shaping its history throughout the centuries and its development in recent years into a centre for international business.
- Cyprus' economy is market oriented, with the private sector playing the dominant role in the production sphere. The government's role focuses on the creation of a favourable entrepreneurial climate, through the maintenance of conditions of macroeconomic stability, the development of the economic, social and legal infrastructure and the pursuance of social and environmental objectives.
- The last two decades have witnessed the gradual transformation of Cyprus into an international centre for tourism, transit trade, international business and maritime activities and services in general.
- In addition, Cyprus maintains also close political and trading ties with the countries in the Middle East region, both the Arab world and the Israelis as well as with the former socialist countries of Central and Eastern Europe.
- Throughout its long history, the island of Cyprus has played a central role in the economic activity of the Middle East region and has developed into an important trading centre.
- Cyprus has also become in recent years one of the main transit trade centres in the region of the Eastern Mediterranean, a development attributed inter alia to the minimal but efficient customs formalities and a reliable handling and delivery system.
The island is also being extensively used as a regional entrepot for the Middle East region, as reflected in the remarkable expansion of re-exports from Cyprus during thelast decade.
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