Chinese firm to establish trade center in Cyprus

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One of the biggest trade firms in Cyprus said on Tuesday that it has signed an agreement with an unnamed Chinese firm to explore the possibility of establishing a trade center in the eastern Mediterranean island.

Hermes Airports said in a statement that detailed negotiations will follow up, but revealed that the Chinese company plan to use the premises of an old airport at Larnaca as a commercial fair center, which will serve as an outlet for Chinese goods.

The center would serve as a stepping stone to Europe, Africa and Middle East for the Chinese company.

The deal, which is worth multi-million-euro investment, is "one of the most important investments ever made" in Cyprus, said the Hermes Airports spokesman Adamos Aspris.

Hermes Airports is the operator of the two Cyprus international airports including Larnana Airport and Pafos Airport and is part of the Shakolas Group of companies, which is considered to be among the island's top trade firms.

Cyprus is a member of the European Union and traditionally maintains close and friendly relations with Middle East and northern African countries.