A European Parliament draft resolution on Turkish actions creating tension in the exclusive economic zone of Cyprus,  which was released on Wednesday in Brussels, urges Turkey to immediately revoke its NAVTEX by which it illegally reserved sea areas south of Cyprus for seismic surveys from October 20th to December 30th, 2014, and to refrain from any violations of the sovereign rights of the Republic of Cyprus. Furthermore, it calls on Turkey to respect the sovereignty of EU member states over their territorial waters and reaffirms that the sovereign rights of the Member States include the right to enter into bilateral agreements and the right to explore and exploit their natural resources in accordance with the UNCLOS.

Cyprus is expected to return to positive growth next year, according to President of the Republic Nicos Anastasiades, who expressed his conviction that the country`s economy will be turning a new page in 2015. According to CNA, addressing the Annual General Meeting of the Cyprus Chamber of Commerce and Industry (CCCI), in Nicosia, President Anastasiades appeared optimistic for the future, “as long as we stay focused on our goals”. Meanwhile, a Troika delegation is currently in Cyprus and will be holding discussions on Thursday with representatives of Cyprus` political parties on the six proposed bills concerning insolvency.

A trilateral meeting between Greece, Cyprus and Israel, at a ministerial level first and later on at a head of states` level, will take place in Athens, according Minister of Foreign Affairs of Greece Evangelos Venizelos said on Wednesday. Venizelos was referring to the outcome of political consultations at the level of Secretaries General of the Ministries of Foreign Affairs of Greece, Cyprus and Israel held in Athens.

Furthermore, there is interest from investors regarding the privatisation of Limassol port, Minister of Communications and Works told CNA on Wednesday. Demetriades and the financial advisors appointed by the government held a meeting on Tuesday, kick-starting the process for the privatisation of the island`s main commercial hub. The Minister told CNA that the meeting focused on a draft assessment of market conditions and the evaluation of Limassol Port`s competitiveness, physical and operational conditions.