Moscow and Nicosia have substantial cooperation in economic field, Russian Ambassador says

One of the pillars of the partnership between Cyprus and Russia is the substantial cooperation in the economic field, Ambassador of the Russian Federation in Nicosia, Stanislav Osadchiy, has said, addressing a conference on ‘The future of Russian business in Cyprus’, that took place on Thursday in Limassol.

Noting that the two countries have common cultural and religious traditions, mutual trust and support, he said that one of the pillars of their partnership is the substantial cooperation in the economic field.

“We are happy to see that after the economic financial crisis in Cyprus, the economy is bouncing back on track with projected growth rates, accelerating year by year,” he said.

The Ambassador noted that such developments would not have been possible without the effective work of the leaders of the government of the country, whose anti-recession policy is progressively restoring Cyprus’ activities in the international investment arena and business destination.

Pointing out that the Russian Federation is contributing to the economic recovery of the island, he said that recently the Russian Government decided to restructure the previously granted credit in favour of Cyprus.

Referring to tourism, he said that the Russian market traditionally takes the second place in Cyprus, thus contributing significantly to the local economy.

In addition, the Ambassador said that more and more Russian companies open representative offices and expand their operations on the island.

Osadchiy expressed the conviction that there are indeed bright prospects for economic relations between Russia and Cyprus and thanked Cyprus for its stance as regards the ‘anti-russian campaign led by some countries.”

Referring to the visit of Cypriot Foreign Minister Nikos Christodoulides to Moscow, he said that tomorrow he will hold ‘very concrete negotiations on many subjects’ with his Russian counterpart Sergei Lavrov.

Referring to the Cyprus problem, he expressed hope that the trust between the two communities in Cyprus will be restored.

‘We wish success on the way to renew negotiations between the two communities. We wish the restoration of trust between the leaders and achieve progress in the Cyprus problem’ he concluded.

The conference was also addressed by former Chairman of the Cyprus Chamber and Commerce Phedias Pelides, who referred to the competitive advantages of Cyprus as a business friendly center, through the legal and regulatory framework, the tax regime, the highly educated and qualified professionals and the high standard of living on the island.

He referred to the growing number of Russia investors who choose Cyprus not only as the base of their business but also as their place of residence.

Concluding, he said that Cyprus offers many investment opportunities through a wide range of established sectors and emerging industries.

Source: Cyprus News Agency