OREANDA-NEWS. October 18, 2010. In line with its rollout strategy and the strengthening of business ties between Russia and Cyprus, Uniastrum Bank, member of the Bank of Cyprus Group, sponsored the Russia-Cyprus Business Forum held in Nicosia as part of the official visit to the Republic of Cyprus by Russian President Dmitri Medvedev, reported the press-centre of Uniastrum.

The forum was timed to coincide with the 50th anniversary of Cypriot independence and the visit od Dmitri Medvedev to Cyprus. The forum was in fact addressed by both Russian President Dmitri Medvedev and President of the Republic of Cyprus Demetris Christofias.

The forum brought together around 500 members of the Russian and Cypriot business communities and covered a wide range of issues on strengthening trade and economic collaboration between the two countries, going forward. Particular attention was accorded to the issue of extending interaction in the sphere of mutual investment.

The forum was attended by Uniastrum Bank President Gagik Zakaryan, who said he believed the Russia-Cyprus Forum had an important part to play in the economic lives of the two countries. “The business forum has become an effective platform for addressing important matters pertaining to trade and economic cooperation between Russia and Cyprus. It is a great honour to take part in such an important event aimed at reinforcing business ties and bringing the Russian and Cypriot nations closer together. The fact that we have sponsored the forum has placed Uniastrum brand in the very heart of the Russian-Cyprus business community”.

“Cyprus’s aspiration has been not to remain just a tax heaven, but to become a regional financial and business centre”, says Andreas Eliades, Bank of Cyprus Group Chief Executive Officer. And indeed both the Bank of Cyprus and the government have chosen the latter course. With investments from both sides, it has been proved that both economies have something to contribute to each other, while also sharing the merits of healthy co-operation”.