India & Cyprus MoUs on Combating Money Laundering & Environment Cooperation

 “Youth, Technology and Ideas: Shaping the Contours of the 21^st Century” was  the theme of address delivered by President of India Ram Nath Kovind at University of Cyprus September 4, 2018, where he said that pursuit of excellence should inspire minds of future generations.

India and Cyprus also signed two MoUs on Combating Money Laundering and Cooperation in the field of Environment in the presence Indian President Ram Nath Kovind and Cyprus President Nicos Anastasiades on September 3, 2018 in Nicosia; and they held wide-ranging talks that include exchange of views on economic cooperation. Kovind and Anastasiades held discussions on issues of mutual interest including promotion of business collaboration in the fields of IT and IT enabled services, tourism, shipping and renewable energy.

President Kovind said that India happens to be the fastest growing major economy in the world today with a growth rate of 8.2 per cent last quarter, and added:

• “In this context and given Cyprus’ niche expertise in financial services and investment banking, both of us agreed that there was much scope to deepen our investment partnership.”
• “We welcomed the signing of the MoU between Financial Intelligence Unit, India and Unit for Combating Money Laundering of Cyprus.”
• “This agreement would further strengthen the institutional framework to facilitate investment cross-flows. We also emphasised that the revision in the Double Taxation Avoidance Agreement made in 2016 provided greater opportunities for our investment partnership to grow.”
• “President Anastasiades and I held detailed discussions on the way forward for our long-standing and excellent relations. I reaffirmed India’s un-wavering support to Cyprus for upholding its sovereignty and territorial integrity.”
• “We reviewed our on-going bilateral and multi-lateral engagements and discussed issues of regional and global concern. We underlined our common objectives to negotiate the challenges that lie ahead. And we committed ourselves to further step-up our mutually beneficial ties, especially in the economic field.”
• “Our founding fathers, Archbishop Makarios and Mahatma Gandhi have blessed our partnership with timeless values, wisdom and foresight. We have the greatest respect for Archbishop Makarios in India.”

The President also paid tributes to Mahatma Gandhi’s bust and praised the Indian community in Cyprus for strengthening people-to-people relations between the two nations.

President Kovind also attended a banquet hosted in his honour by President Nicos Anastasiades of Cyprus in the evening of September 3, 2018. Speaking on the occasion, the President said India and Cyprus as two ancient civilizations; we have a deeper understanding of each other’s culture and thought. We have always been open and receptive to ideas, cultures and peoples. Our shared historical experience and sensibilities have drawn us closer as friends and as partners. We have been steadfast supporters of each other on issues of vital concern. India’s commitment to Cyprus and its territorial integrity remains deep and abiding.

India and Cyprus are located in a challenging security environment. We must support each other in our quest for peace and security. India deeply appreciates the strong condemnation of terrorist acts by Cyprus and looks forward to closely working with it to defeat and destroy terrorism.

President Kovind was in Cyprus on the first leg of his three-nation visit to Europe that include Bulgaria and the Czech Republic besides Cyprus, to continue India’s high-level engagements with European countries.