India, Cyprus sign 4 agreements

India and Cyprus signed four agreements, including on air services and merchant shipping.

Key Facts

  • The two sides signed an executive programme on culture, education and scientific cooperation for the years 2017 to 2020.
  • Both sides signed a work plan under a programme of cooperation in agriculture for the period 2017-2018.
  • Another agreement was signed on cooperation in the area of merchant shipping.
  • A fourth agreement was signed to boost air services between the two countries.
  • Cyprus, the eighth largest foreign investor in India, has cumulative foreign direct investment of about $9 billion.
  • The investment in the areas of financial leasing, stock exchange, auto manufacture, manufacturing industries, real estate, cargo handling, construction, shipping and logistics.

Source : The Hindu

GS II : Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.

 

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