Negotiations on joint project with Cyprus and Qatar continue

Government Spokesman Stephanos Stephanou said Monday that the investment of Qatar for a joint development project in Nicosia is very important for the economy of Cyprus, adding that negotiations continue.

Stephanou also expressed the wish that “soon we will be in a position to say more on this issue”.

He added that the government of Cyprus believes that this investment would lead to new investments and open more prospects for the Cyprus economy and the relations between the two states.

The Spokesman, who held last weekend, together with Minister of Finance Charilaos Stavrakis, contacts with Qatari officials on the joint development project, said that their trip to Qatar took place in the framework of contacts and negotiations underway considering Qatar’s investment.

“This investment is very important because it will give new impetus to our bilateral relations. It is very important for the economy of Cyprus and I hope that soon we will be in a position to say more”, he pointed out.

Replying to questions, the Spokesman stressed that negotiations with Qatar continue, despite press allegations that they have come to a deadlock.

Cyprus and Qatar signed in April 2010 two agreements and four memoranda of understanding, covering sectors such as air services and the creation of a joint venture for a project opposite Hilton Hotel in Nicosia, including a five-star hotel, a shopping mall, offices and apartments.

The agreements and memoranda were signed at the Presidential Palace in Nicosia during official talks between delegations of Cyprus and Qatar, headed by President Christofias and the Emir of Qatar.