Cyprus-Russia relations are based on principles, mutual cultural and historic origins and reciprocity and may be developed even further to the benefit of the two countries and their people, the President of the House of Representatives Marios Garoyan said today.
Garoyan was addressing a conference in Nicosia, organized by the Cyprus Center for European and International Affairs together with the Russian Cultural Center, entitled «The Republic of Cyprus and the Russian Federation: Past, Present and the Future Challenges».
The House President noted in his speech that the strong bonds of friendship and cooperation linking the two countries are based on principled positions and remain on an excellent level throughout time.
Moreover, he noted that during the past 50 years, Cypriot-Russian bilateral relations have considerably expanded in all areas, among others in the political, diplomatic, financial and cultural domains, as well as in defence and even on the social level.
Referring to the recent visit by the President of the Russian Federation Dmitry Medvedev to Cyprus, and the 15 bilateral agreements and memoranda signed by the two countries, Garoyan said that the course of bilateral relations leads to further development.
He added that both countries evaluate their cooperation in international organisations as very significant, since they share a similar approach to various international issues.
Cyprus is benefiting from Russian support when it comes to the Cyprus problem, while Russia may express its considerations and its views to EU circles, through the Republic of Cyprus, Garoyan said.
The Republic of Cyprus will continue to actively underline the importance of reinforcing EU-Russia relations in all domains related to energy, external security, research and culture, the economy and justice, he added.
Furthermore, the House President noted that Russian suggestions regarding a new security architecture may be further discussed, within the framework of the global security debate.
Garoyan also said that tourism, as well as financial and trade relations are progressing and noted that the number of investment is increasing, with Cyprus constituting the base for numerous Russian enterprises that reinvest in many areas of the Russian economy.
He underlined the fact that Cyprus constitutes an important route for channeling foreign investment to the Russian economy, and said that Cyprus ranks first among foreign investors and remains as a destination in the first rank among countries that attract the biggest investments from Russia.
The signing of the Protocol to avoid double taxation will boost financial relations between the two countries even further, President of the House of Representatives noted.
