Cyprus – Russia to implement agreements

Cyprus – Russia to implement agreements

Nicosia, March 18, 2015/ Independent Balkan News Agency

By Kyriacos Kyriacou

Ways to implement the agreements signed between Russia and Cyprus during President of the Republic Nicos Anastasiades` visit to Moscow last month will be examined at the Cyprus – Russia Business and Investment Forum that will be held in Limassol with the participation of Cyprus and Russian businesses.

The Forum, that will be held on March 20th, will be attended by Russian businesses specializing in the field of natural gas, Russian Ambassador to Cyprus, Stanislav Osadchiy, told a press conference on Tuesday.

The Forum is organised by the Cyprus Chamber of Commerce and Industry, the Chamber of Commerce of the Russian Federation, the Cyprus – Russian Business Association and the Cyprus-Russian Friendship Association.

President Anastasiades will address the Forum which will also be attended by Nikolay Podguzov, Chairman of the Russian Part of the Russia – Cyprus Intergovernmental Commission for Economic Cooperation, Deputy Minister of Economic Development of the Russian Federation, as well as Georgy Petrov, Vice President of the Chamber of Commerce of the Russian Federation and Mikhail Kuzovlev, Chairman of the Russian Business Council on Cooperation with Cyprus.

Among the issues that will be discussed are “The Cyprus Economy – two years after the financial crisis”, “Developments in the banking sector”, “The Privatization Process in Cyprus”, “Tourist Infrastructure and Business Opportunities” as well as “The Energy Potential including renewable resources of Cyprus for Russian Investments”, “Cyprus an excellent place to base your business” and “Cyprus & Russia, Opportunities for Business & Investments”.

Osadchiy said the main issue is to examine ways to implement the agreements that include energy and tourism.

He pointed out that during President Anastasiades` visit to Russia they discussed the participation of Russian companies in the ongoing exploration in Cyprus` EEZ for locating hydrocarbons “but how and when,” he said this will be done “will be discussed between the relevant authorities of the two countries, who are the Minister of Energy, Trade and Industry George Lakkotrypis and Russian companies which might be interested in that field.

The Russian ambassador praised the significance of the Forum because it coincides with President Anastasiades` visit to Moscow and difficult conditions in the Cypriot economy.

The forum, he added, is very important because it will help both countries to understand how “we

can work more on the most important sectors of the economy”.

Chairman of the Cyprus Chamber of Commerce an Industry, Fidias Pelidis said that the Forum aims to highlight business and investment relations between Cyprus and Russia, adding that this year`s event is very special because it was proceeded by President Anastasiades visit to Russia where new agreements were signed for cooperation between the two countries.

Asked if there are indications that agreements will be signed between businesses from both countries, Pelides said that the Chamber has signed cooperation agreements with the Russian Chamber and other institutions in Russia and this Forum aims to promote business relations in all these fields, bringing together significant business people from both countries.

President of the Cyprus-Russian Business Association Evgenios Evgeniou Eugene described the Forum as very important as it follows the successful visit of President Anastasiades to Russia and noted that cooperation prospects in business and investment exist between the two countries and this Forum will showcase those prospects.

President of the Cyprus-Russia Friendship Association Haris Thrasou praised the importance of this year`s economic forum and expressed confidence that it will succeed.