Cyprus-Russia seek to enhance commercial relations

Cyprus and Russia will seek to enhance commercial relations following the visit by Cypurs President Tassos Papadopoulos, Commerce Minister Geroge Lillikas and Foreign Minister George Iacovou to Russia this week.

Papadopoulos reported that Russian President Vladimir Putin had asked his aides to conclude some bilateral agreements that were still pending.

Russian business already plays an important role in the offshore sector in Cyprus, while Cyprus-based investment in Russia is also significant.

“We agreed…that the joint committee of financial coordination will look into various issues with a view to further enhance financial and trade relations,” said Papadopoulos.

Discussing the issue of visas, President Papadopoulos said the difficulties in securing visas were not the product or desire of the Republic of Cyprus but because there were orders by the EU.

President Papadopoulos said he was pleased with the agreement last week in abolishing visas for diplomats noting the Cyprus government has made every effort to simplify procedures.