As an enhancement to an agreement signed in 1989, Cyprus and India signed an additional agreement yesterday for the promotion and mutual protection of investments between the two countries.

Vice Minister of Foreign Affairs of India currently visiting Cyprus, expressed his support towards Cyprus’ accession to the EU, stating that this will enhance the country’s strategic position as an investment location.

Finance Minister of Cyprus Mr. Takis Klerides stated that there is great interest for the information technology sector from Cyprus to India and anticipated that the new agreement will further enhance cooperation in this field as well.