During a teleconference last Wednesday, Cyprus and India agreed on and concluded the Memorandum of Understanding (MoU). Two days later, the two countries proceeded with the signing of a Memorandum of Cooperation (MoC) in the fields of economy, science, technical affairs and Industry, reports ServPRO.
Leading the Cypriot delegation was the Director of the Directorate General for European Programmes, Coordination and Development while the Indian delegation was headed by the Trade and Industry Minister Anita Pravin.
The discussions were also attended by stakeholders from the Cyprus Chamber of Commerce and Industry and the Cyprus Investment Promotion Agency.
The leaders from both delegations mutually agreed on the delays regarding the development of institutional framework of regulation and promotion of bilateral economic relations and agreed on taking further action to expedite the processes as well as expand their co-operation in the fields of trade, the pharmaceutical industry, agro-industry, science and energy.
Finally, the two leaders raised the important matter of tourism and tourist relations between the two countries and agreed to take initiatives in order to strengthen these ties.