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Cyprus-US Strategic Dialogue: A New Era Of Bilateral Relations

In a significant diplomatic development, the President of Cyprus, Nikos Christodoulides, has lauded the newly established Strategic Dialogue with the United States. This agreement, forged during the visit of Cyprus’ Foreign Minister, Constantinos Kombos, to Washington, signifies a substantial enhancement of political, economic, and social ties between the two nations.

The Strategic Dialogue aims to fortify cooperation in crucial areas such as energy, technology, and security, presenting Cyprus as a reliable partner in the volatile Middle East. This collaboration is expected to stimulate investment and strengthen trade relations, benefiting the Cypriot economy. Additionally, the agreement marks progress toward including Cyprus in the US Visa Waiver Programme, simplifying travel for Cypriot citizens.

President Christodoulides emphasized the multifaceted advantages of the agreement, underscoring its role in bolstering Cyprus’ international stature as a stable and cooperative entity. He articulated that this partnership would not only benefit both nations but also contribute to regional stability and peace.

During the announcement, US Secretary of State Antony Blinken highlighted the robust relationship between the US and Cyprus, citing the maritime corridor for humanitarian aid to Gaza as a testament to their strengthened ties. Blinken expressed confidence in the deepening bilateral relations, underscoring Cyprus’ strategic importance and its role in upholding democratic values and the rule of law.

Foreign Minister Kombos echoed these sentiments, portraying Cyprus as a credible and predictable partner for the US in a complex region. He stressed the importance of structured, intensive dialogue to address shared challenges and enhance cooperation.

The formal signing of a bilateral agreement on travel data use, witnessed by senior officials from both nations, marks a pivotal step toward integrating Cyprus into the US Visa Waiver Programme. This agreement signifies not only a deepening of diplomatic and economic relations but also a shared commitment to security and mutual prosperity.

The Cyprus-US Strategic Dialogue is poised to commence in September, promising a future of closer cooperation and shared strategic interests. This development reflects the growing importance of Cyprus on the global stage and its strategic alignment with US interests in the region.

Toyota’s Global Production Declines For 10th Consecutive Month, Yet Sales Show Growth

Despite a consistent drop in global production, Toyota Motor reported an uptick in worldwide sales for the second month in a row, driven by strong demand in the United States and China.

In November 2024, Toyota’s global output fell to 869,230 vehicles, a 6.2% decrease compared to the same month the previous year. This decline was steeper than the 0.8% drop observed in October.

The company’s production in the U.S. dropped by 11.8%, showing slow recovery. However, the production of models like the Grand Highlander and Lexus TX SUV resumed after a four-month hiatus in late October.

In China, Toyota’s production decreased by 1.6%, a smaller drop compared to the previous month’s 9% decline. The company benefited from higher local sales of models such as the Granvia and Sienna minivans, as well as the electric sedan bZ3, developed jointly with BYD.

As Chinese automakers like BYD gain ground, Toyota has decided to establish an independent plant in Shanghai and plans to start manufacturing electric vehicles for its Lexus luxury brand by 2027, according to a report from Nikkei.

Production in Japan, which accounts for about a third of Toyota’s global output, was down 9.3% in November. This was partly due to a two-day production halt at the company’s Fujimatsu and Yoshiwara plants.

Despite the production challenges, Toyota saw a 1.7% increase in global sales, reaching 920,569 vehicles in November, setting a new record for the month. However, for the period from January to November 2024, global production fell by 5.2% year-over-year, totalling around 8.75 million vehicles. During the same period, global sales declined by 1.2%.

These figures include Toyota’s Lexus brand but exclude sales from its group companies, Hino and Daihatsu.

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