Financial Daily from THE HINDU group of publications
Thursday, Apr 13, 2006
Financial Daily from THE HINDU group of publications Thursday, Apr 13, 2006 |
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Industry & Economy
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Foreign Trade `India should partner with Cyprus in services sector' Our Bureau
New Delhi , April 12 For increasing economic and trade engagements between India and Cyprus, the visiting President of Cyprus, Mr Tassos Papadopoulos, suggested setting up of a high-level committee to identify areas of common interest between the two countries. Speaking at a meeting organised by industry chambers FICCI, CII and Assocham here on Wednesday, he said that his country was largely known for its services sector and it needed a lot of investment in technology, innovation and research. "This is a business opportunity for India as Cyprus provides a gateway to the markets of Europe," he said. "As of May 2, 2005 our country has joined the exchange rate mechanism and on account of the convergence programme implemented by the Government, is expected to enter the Euro zone by January 1, 2008." He said that since Cyprus joined the European Union, there had been some difficulty for Indians in obtaining visas to go there and he hoped that both the countries would work together to sort out the problem.
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