Addressing the event, which was organised by the Croatian Chamber of the Economy, Croatian President Stjepan Mesic said that the presence of Croatian companies in the Mediterranean market was insufficient and that Cypriot partners could help change that situation. Although Cyprus is a small market, presence in that market would provide an opportunity to offer one's products and services in the entire Mediterranean region, Mesic said.
He called on Cypriot business people to use Croatian ports and other transport infrastructure to present their goods in the European market, and to invest in tourism, and water and healthy food production in Croatia.
Cypriot President Tassos Papadopoulos said that Cyprus was a dynamic and open economy based on the service sector, which accounted for 76 percent of the Gross Domestic Product.
He underlined the country's low unemployment and inflation rates of 3.8 and 2.6 percent respectively, and a 50-percent rise of foreign direct investments from 2004.
Cyprus is very friendly towards foreign capital, Papadopoulos said, calling on Croatian investors to use the significant investment possibilities in Cyprus, including a 10% income tax rate.
Following the addresses by the two presidents, a short seminar on business opportunities in Cyprus was held, followed by talks between Cypriot and Croatian business people.
According to the State Bureau of Statistics, trade between Croatia and Cyprus in 2005 amounted to USD87.98 million. Croatian exports to Cyprus amounted to USD85.01 million, while imports from Cyprus amounted to 2.97 million.
Croatia mostly imports potato, citrus fruits, and electronic components from Cyprus, and exports ships, and petroleum and bitumen oils.