Anastasiades lobbies for closer economic ties with India
President Nicos Anastasiades addressed the Cyprus-India Business Forum as part of his week-long trip to India, and expressed his government’s determination to upgrade the partnership between the two countries.
“India and Cyprus enjoy long-standing, excellent relations, based on deeply-rooted historical, political, economic and cultural ties, and amicable interactions between our two peoples,” said Anastasiades, adding that these ties extend into international fora where the two countries support each other’s goals of independence, sovereignty and territorial integrity.
To this effect, Anastasiades announced that during his visit to New Delhi, a number of bilateral agreements and Memoranda of Understanding will be signed in the fields of Merchant Shipping, Air Services, Agricultural cooperation, education and culture.
Anastasiades also lobbied for the success of Cyprus’ shipping industry: “Cyprus enjoys the privilege of being one of the most influential global hubs for ship owning and ship management services; being home to some of the world’s most prominent names in shipping; offering competitive ship registration costs, and favourable tax regime for ship management and other international business enterprises.”
In addition the President of the Republic of Cyprus said that the education sector also has the capacity of becoming another significant area of collaboration between Cyprus and India: “The three state Universities and the five highly esteemed private Universities offer a wide range of courses and degree programmes, attracting foreign students from all over the world, rendering the island a major educational centre in the region.”
Anastasiades also said that Cyprus will be offering a tax incentive scheme for film production, in a bid to draw productions from India to the island.
The Government is committed to the implementation of a series of specific incentives, aiming to further facilitating investment and establishing a business-friendly environment, said Anastasiades.
“In particular, the Government has developed a new legal framework, which establishes the procedure of direct licensing of large investments, and it applies on pilot cases a fast track licensing mechanism for investment projects.“
“As a final note, let me reiterate Cyprus’ commitment to even closer economic and business ties between our two countries, and underline that my Government is committed to remaining a reliable partner in facilitating business and investment initiatives involving India,” said Anastasiades.