San Marino, San Marino. Cyprus Foreign Minister Constantinos Kombos visited San Marino on Wednesday and welcomed progress towards a possible association agreement between the country and the European Union. During the visit, he and Sammarinese Foreign Minister Luca Beccari also discussed bilateral ties and announced the signing of a memorandum of understanding on higher education and research.
Bilateral relations discussed
Kombos said the visit came as Cyprus and San Marino marked 40 years of official relations, describing it as a reinforcement of the strong bonds of friendship between the two countries.
He said his discussions with Beccari focused on further enhancing relations between Cyprus and San Marino.
Memorandum signed
Kombos announced that the two countries signed a memorandum of understanding in the fields of higher education and research.
He said the agreement would create new opportunities for cooperation and closer ties.
EU association agreement
Kombos said he and Beccari welcomed progress towards San Marino’s association agreement with the EU, describing it as a step towards cooperation, integration and closer ties with the European family.
Negotiations for an association agreement with San Marino concluded in 2023, and the European Commission approved the agreement in 2024.
Implementation remains pending
The agreement has not yet been implemented because the Bulgarian government has refused to acquiesce to it.
The issue is linked to the freezing by Sammarinese authorities of €15 million belonging to Starcom Holding, a company owned by Bulgarian businessman Assen Christov, after a failed acquisition of a 51 per cent stake in Banca di San Marino.
Investigation ongoing
A criminal case concerning alleged private corruption was launched in San Marino against Christov and others in October last year.
The €15 million was frozen shortly afterwards, and the Sammarinese authorities’ investigation into the matter is ongoing.
