The Cypriot Ministry of Foreign Affairs inaugurated Friday a series of meetings with a view to promote economic diplomacy.

The Cypriot FM Markos Kyprianou hosted on Friday the first meeting between state officials, such as the Permanent Secretaries of the Ministries of Finance and Commerce, representatives of the Cyprus Tourism Organisation, as well as parliamentary parties and the private sector, including the Cyprus Chamber of Commerce and Industry, the Employers and Industrialists Federation and the Association of Commercial Banks.

In statements after the meeting, the Minister said that these meetings will continue in a bid to draft a strategy on economic diplomacy which would yield both economic and political benefits.

President of the House of Representatives Marios Garoyian and Chairwoman of the Czech-Cyprus Friendship Group in the Czech Parliament Katerina Konecna met on Friday in Nicosia and discussed the Cyprus problem, bilateral relations and the impact of the global financial crisis on the two countries.

According to an official press release, Garoyian briefed Konecna on the course of direct negotiations between the leaders of the two communities in Cyprus for a solution of the island`s political problem, noting that a settlement should be the result of talks and not pressure that would serve Turkish interests.

Garoyian said that, given that the key to the solution is in Ankara and in view of the EU progress report on Turkey, pressure should be exerted in the direction of Turkey in order for the country to fulfill its obligations towards the EU and Cyprus, and cooperate for a solution, based on UN resolutions, EU principles and international law.

NICOSIA, June 29 (Reuters) - Cyprus's revenues from tourism fell 11.7 percent from January-May year on year, as the island braces itself for the worst summer season on record with arrivals down 8.9 percent by May, statistics showed on Monday.

Tourism earnings for January-May came to 390.4 million euros compared to 442.3 million euros in the same period of 2008.

A passenger survey found that in the month of May, revenue from tourism reached 158 million euros, a 17.3 percent year-on-year drop. Tourism represents 10.6 percent of Cyprus's gross domestic product.

Official Finance Ministry forecasts put the island's economic growth at around 1.0 percent this year from 3.7 percent in 2008, in anticipation of a decline in tourism arrivals.