Ambassador addresses Rotary on Irish and Cypriot Economies

Rotary Club - Aspelia President Nazo Davidian welcomed Ambassador Nicholas Twist on the occasion of the Ambassador's presentation on "Ireland and Cyprus - on the road to recovery" in the Hilton Hotel Nicosia, on 27 November 2015. The Ambassador reviewed the parallels in recent Irish and Cypriot economic developments. Ireland and Cyprus both suffered in part due to internal issues but also due to external factors. Future prosperity lay in our own hands, however. Many structural reforms were necessary, regardless of the crisis which had made them both urgent and unavoidable. The Ambassador noted that Ireland had endured several years of austerity but was now well on the way to recovery and that Cyprus was just a few years behind on most indicators. Cyprus was on course to exit its troika programme in 2016 and was regaining international investor confidence. It was now important to identify future areas of growth and added value as Ireland was doing with its Enterprise 2025 strategy and with Origin Green, its strategy to produce value-added, high quality and sustainable food and drink. Cyprus had its own unique qualities and niche capabilities which could be exploited to benefit its citizens. Location, climate and the warmth of its people were important assets. Kopiaste was one of the Ambassador's favourite Greek words, signifying the warmth and hospitality f the Cypriot people. The Cypriot diaspora was a valuable resource whose good will should be tapped. Finally, the Ambassador highlighted the economic benefits to be drawn from a united Cyprus, with tourism being an obvious early candidate for an all-island approach.