Bank of Cyprus was the platinum sponsor of the “Doing Business with Israel” Summit that was successfully completed on 8 November 2012 in Nicosia. The Summit aimed at introducing the Israeli economy to the Cypriot business community.

The Summit examined the investment opportunities and potential sec¬tors for development and cooperation between Cypriot and Israeli companies. Specific reference was made to the energy sector as a substantial area of cooperation between the two countries. It provided a practical approach and attempted to answer questions such as:

• How can Israeli and Cypriot businessmen and companies cooperate?
• What are the current investment opportunities and sectors of development?
• What are the advantages for a Cypriot company investing in Israel?
• What is the practical way to do business in Israel?

In the opening speech of the Summit, Mr Yiannis Kypri, CEO of Bank of Cyprus Group, stressed that the links between Cyprus and Israel had entered a new era following the findings of hydrocarbon natural resources in the Exclusive Economic Zone of Cyprus. He analysed the benefits of Cyprus as an international business centre that offers significant opportunities for investment and trade between Israel and other rapidly growing economies. Finally, Mr Kypri reiterated his strong belief in the business opportunities between Cyprus and Israel and that such opportunities would be beneficial for all parties, while Bank of Cyprus can be a trusted facilitator in this process.