OREANDA-NEWS.  February 13, 2012.  Mikhail Kuzovlev, President and Chairman of the Management Board of the Bank of Moscow, Chairman of the Council for Co-operation with Cyprus, has taken part in the work of the Russia-Cyprus Business and Investment Forum devoted to development of business co-operation between Russia and Cyprus. The event took place on 10 February 2012 in Limassol (Cyprus). Mikhail Kuzovlev’s speech within the scope of the forum was dedicated to opportunities for preventing fraud in the financial sphere.

"Russia and Cyprus have been partners for many years, and effective, mutually beneficial, transparent co-operation is in both our mutual interests. That means that bad faith bankers are not capable of compromising or destroying the relations between our two countries", Kuzovlev noted. "I am convinced that, over the next few years, we will not only maintain Russia-Cyprus co-operation but also raise it to a new standard. This will be largely thanks to the special nature of the relations that have taken shape between the two countries as a result of close cultural and historical links stretching over centuries".

The Forum participants were greeted by President of the Republic of Cyprus Dimitris Christophias and Russian Ambassador to Cyprus Vyacheslav Shumskiy.

The Forum was attended by government officials, including Senior Deputy Chairman of the Central Bank of Russia Alexey Ulyukaev, Chairman of the Management Board of the Pension Fund of the Russian Federation Anton Drozdov, Deputy Minister for Power Yuri Sentyurin, and representatives of the business communities and public organisations of both Russia and Cyprus.

The Business Council for co-operation with Cyprus is called on to strengthen and expand trade, economic, scientific and technical and other business links and contacts between Russian and Cypriot companies and entrepreneurs. The organisation’s objectives include promoting Russian business in the Cyprus market and protecting the interests of Russian companies, as well as creating a favourable legal and economic framework for development and implementation of business projects in both countries.