Commerce, Industry and Tourism Minister Yiorgos Lakkotrypis visits Israel on Monday with a view to promote investments which aim at enhancing the economy of Cyprus and prepare the visit President Nicos Anastasiades will pay to the neighbouring country in May.
In statements to the press after a meeting under President Anastasiades, with the participation of Commerce Minister, Cyprus Investment Promotion Agency (CIPA) President Christodoulos Agastiniotis and CIPA Director General Charis Papacharalambous, Lakkotrypis said that the aim of the government is to have a confirmation drilling by Noble, adding that according to Noble’s planning this drilling will take place during the third quarter of 2013.
On his part, Agastiniotis said that Cyprus remains an attractive investment destination, adding that President Anastasiades will address on Sunday the Global Russian Business Meeting that will take place in Cyprus.
He noted that CIPA, in cooperation with the Minister of Commerce, the Cyprus Chamber of Commerce and Industry and the Employers and Industrialists Federation, will hand over this week to President Anastasiades a comprehensive proposal on measures and incentives aiming at the recovery of the economy and with a view to attract foreign investors.
On his part, Laokkotrypis said that CIPA would suggest the implementation of a number of projects as the construction of marinas and of golf courses the soonest possible.
Asked if they discussed about specific measures such tax incentives or other kind of incentives to foreign investors, Lakkotrypis said they discussed these issues as well as others.
Replying to another question, Lakkotrypis who leaves Monday for Israel, said that President Anastasiades will have a meeting on Tuesday with Noble Executive Advisor.
He said that during his visit to Israel, he would discuss with his Israeli interlocutors issues concerning double taxation avoidance, tourism, trade and energy issues.
He also said that as regards the energy sector “our intention is to discuss about the co-exploitation agreement, which is very important in relation to the projects currently under way, as well as about possible partnerships in the field of energy regarding the liquidation plant as well,” he added.
Furthermore, he said that there is also the geopolitical aspect of this issue and that is why he will visit Israel with Foreign Minister Ioannis Kasoulides.
Cyprus entered the hydrocarbon scene when it signed a contract with US Noble Energy, which discovered in late 2011 an estimated gross mean resources of 7 trillion cubic feet in offshore block 12, also know as Aphrodite. Furthermore, Nicosia signed recently 3 more contracts with the ENI/KOGAS consortium for hydrocarbons exploration in blocks 2, 3 and 9 in its EEZ, as well as with French energy giant, Total, for blocks 10 and 11.
