India and Cyprus will cooperate in the field of environment and combat money laundering together. Presidents of both the nations signed the two agreements following wide-ranging talks.
Indian president Ram Nath Kovind is currently in Cyprus, the first leg of his three-nation visit, and exchanged views with counterpart Nicos Anastasiades.
Kovind said India registered a growth rate of 8.2 percent in last quarter and the country is fastest growing major economy in the world.
He added, “In this context and given Cyprus’ niche expertise in financial services and investment banking, both of us agreed that there was much scope to deepen our investment partnership.”
The president further mentioned that MoU between the two nations would strengthen institutional framework to facilitate investment cross-flows and said investment partnership is growing following the revision in the Double Taxation Avoidance Agreement in 2016.
External Affairs Ministry spokesperson Raveesh Kumar tweeted, “India and Cyprus signed two MoUs [memoranda of understanding] today on combating money laundering and cooperation in the field of environment in the presence of Presidents of both countries.”
Kovind said they had discussed on several other mutual issues too like promotion of business collaboration in IT, tourism, renewal energy and shipping.
Both the presidents reviewed ongoing bilateral engagements and discussed issues of global as well as regional concern.
Kovind paid tributes to statue of Mahatma Gandhi in Cyprus.
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