The implementation of agreements signed between Cyprus and Russia in the context of President Nicos Anastasiades' recent visit to Moscow was examined during the Cyprus-Russia Business & Investment Forum on 20th of March.

Cyprus-Russian Business Association organised the event in cooperation with the Cyprus Chamber of Commerce and Industry (CCCI) and the Chamber of Commerce of the Russian Federation. The participation of both Cypriot and Russian firms, individuals specialising in the field of natural gas and energy was aiming to strengthen the island's business relations with Russian professionals, to promote Cyprus as an International Business Centre and attract FDI to the country - the event generously supported the relationship within Russian-Cyprus business world and helped to promote further cooperation.

The event was attended by Nikolay Podguzov, Chairman of the Russia-Cyprus Intergovernmental Commission for Economic Cooperation, Georgy Petrov, Vice-President of the Chamber of Commerce of the Russian Federation and Mikhail Kuzovlev, Chairman of the Russian Business Council on Cooperation with Cyprus.

Among the issues discussed was the recovery of the Cyprus economy, recent developments in the banking sector, the privatisation of semi-government organisations, tourism infrastructure and business opportunities.

Before the event, Russia's Ambassador to Cyprus, Stanislav Osadchiy, expressed the opinion that the Forum would significantly boost further cooperation between the two countries, particularly as a consequence of President Anastasiades' solid network contacts in Moscow. Important is that the Forum managed to examine ways in which the agreements signed during the visit could be effectively implemented.

CCCI Chairman Phidias Pilides noted that the Forum aims to highlight business and investment relations between Cyprus and Russia and is expected to promote further cooperation in other fields.