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Cyprus and Russia sign new Agreements

On February 25 th 2015, the President of the Republic of Cyprus, Mr. Nicos Anastasiades, and the President of the Russian Federation, Mr. Vladimir Putin, met and signed a Joint Action Program for the years 2015-2017.

This document relates to several different areas of cooperation between the two countries, mutually beneficial for both countries. A number of other agreements were signed including the Memorandum of Understanding for cooperation in the fields of research and technology between the Ministry of Finance of Cyprus and the Ministry of Education and Sciences of Russia, The Protocol of the 8th Cyprus-Russia Intergovernmental Committee for Economic Cooperation between the Ministries of Defense and an agreement on military cooperation signed by the Ministers of Foreign Affairs of the two countries.

Furthermore, the two countries signed agreements for cooperation in the fight against the illegal movement of narcotic drugs, combating terrorism and a Program of Cooperation in the field of Sciences, Education and Culture for the period 2015-2018. Lastly, Memoranda of Understanding were also signed between the Cyprus Investment Promotion Agency and the corresponding Russian organisation and a Memorandum of Understanding between the Central Bank of Russia and the Cyprus Securities and Exchange Commission.

This is a welcomed development which is expected to further strengthen the close political and financial ties between the two countries.

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