An Agreement on Cooperation was signed between the Russian Investment Agency and Cyprus Investment Promotion Agency
On February, 25 2015 in Moscow, during an official visit to Russia of the President of the Republic of Cyprus Nicos Anastasiades, a memorandum was signed between the Russian Investment Agency “Invest in Russia” (RIA) and Cyprus Investment Promotion Agency (CIPA). The document was signed by the President of RIA Yury Spiridonov and the CEO of CIPA Christodoulos Angastiniotis. The signing ceremony was attended by the leaders of both countries – the President of the Russian Federation Vladimir Putin and the President of the Republic of Cyprus Nicos Anastasiades.
This agreement opens new opportunities for mutual investments between Cyprus and Russia. Russia and Cyprus are the largest investors in the economy of each other. The agreement provides for cooperation aimed at attracting investment, promotion, implementation and support of projects.
During the visit the talks were held on expanding cooperation in the field of investment and bringing this cooperation to a qualitatively new level.