OREANDA-NEWS. October 13, 2010.   The Russia-Cyprus Business Forum was held within the framework of the visit to Cyprus of Russian president Dmitry Medvedev. The event was timed with the 50th anniversary of the declaration of independence of the Republic of Cyprus and the establishment of bilateral diplomatic relations.

RF CCI president Evgeni Primakov and president of the Cyprus CCI Mantos Mavromatis welcomed the attendees of the forum. Evgeni Primakov underlined stressed the importance of the signing at the Forum of the Agreement on cooperation between Russian and Cyprian CCIs as a proof of both chambers’ striving to deepen the interaction between Russian and Cyprian business communities.

The agenda of the event included a wide range of issues of furthering the bilateral trade and economic cooperation. Especial attention was given to the development of interaction in the investments area, given that Cyprus is one of the leading investors into the Russian economy. The total amount of Cyprian investments into the Russian economy now stands at USD 52 bln. 

The priority areas of the bilateral cooperation, in particular, included the energy sector, tourism, transport (including marine transport), financial and banking services.

The participation in the work of the forum of RF President Dmitry Medvedev and President of the Republic of Cyprus Dimitris Christofias made it especially meaningful. Speaking about the significance of the signing of the protocol to the current Agreement on the avoidance of double taxation on the summit level based on the results of the negotiations both heads of states pointed out that both countries’ chambers of commerce and industry could play a role of their own in the development of the extension and strengthening of bilateral trade and economic development

The forum was attended by about 500 people including representatives of different Russian and Cyprian ministries and entrepreneurial associations, Russian territorial CCIs and businessmen from both countries.