Cyprus president-elect Nicos Anastasiades said on Sunday his first task is to reinstate the island's credibility by closely working with its European Union (EU) partners and by doing his outmost to fulfill its responsibilities.

"We will restore our credibility in the European and international arena. One of our first acts will be to submit our application for membership in the Partnership for Peace," Anastasiades declared.

Anastasiades was officially declared as new president of Cyprus just two hours after official results were announced.

Chief election officer read the official act of declaration in front of several thousand of his supporters who cheered and blew horns.

Departing from the customary formal statement, the election officer reminded Anastasiades that several hundred jobless young people had worked in polling stations on Sunday -- a stark reminder of the economic and social crisis the new president has to come to grip with.

Unemployment has reached over 13 percent last year and is expected to rise further this year.

In his first statement to local and foreign journalists after scoring a convincing victory with 57.48 percent of the vote in a runoff presidential election, Anastasiades said that he will bring about all the necessary structural reforms needed to get the depressed economy up and running again.

"I am committed to all the necessary measures to steer the country out of the economic crisis and towards a swift exploration and development of our oil and gas reserves," Anastasiades said, referring to large natural gas reserves discovered in seabed fields off the south coasts of Cyprus.

"Through dialogue with our European and international partners (my government) will safeguard the longstanding strengths of our economy and serve the desired goal of growth and jobs," he said.

Anastasiades said though the election is over the problems facing the country are far from over and pledged to devote all his efforts to serve the interests of the country.

"The biggest challenge at this moment is for our economy to be set on the path of stabilization and growth," he said.

Anastasiades also promised to revive stalled negotiations with Turkish Cypriots for a settlement reuniting the island.

He sent a message of peace and friendship to Turkish Cypriots saying he is determined to seek a solution that will lead all sections of the population to prosperity and wellbeing.

"In this effort... we will have the active support of the European Union and of all other friendly countries, which sincerely wish to bring this unacceptable situation ... to an end," Anastasiades said in connection with his electoral promise to involve the EU in reunification talks.

Anastasiades said he will invite all parties no matter how they voted to take part in a national salvation government.

Cyprus held its first round presidential election on Feb. 17. Since no candidate won over 50 percent of the vote to secure an outright victory, the second round of election which only the top two candidates contest was held one week later.

Anastasiades defeated his challenger ruling AKEL party backed Stavros Malas who garnered 42.52 percent of the vote.

Current President Demetris Christofias didn't seek re-election. He is the only president not seeking re-election since the country got independent in 1960 from British rule.

Cyprus has a presidential system. The president who has five years term in office is not only the head of state but also the head of government.