NICOSIA— Lawmakers in Cyprus are examining ways to address a €1 billion trade deficit with China, according to recent discussions held in the House Commerce Committee.
Committee chair Kiriakos Hadjiyiannis said the trade relationship between the two countries is strong, and the committee is seeking ways to preserve and expand it while reducing the imbalance.
During the meeting, officials reviewed both the potential and the challenges of bilateral trade. Hadjiyiannis noted that while Cyprus may hold a modest advantage in services, the goods trade deficit remains significant.
He said the goal is to create opportunities for the national economy and reduce the gap, rather than curtail trade with China. The committee also found that no formal policy currently exists to address the issue.