Cyprus And Iran Sign Bilateral Investment Protection Agreement

by Lorys Charalambous, Tax-News.com, Cyprus

05 March 2009

Cypriot Minister of Commerce, Industry and Tourism, Antonis Paschalides, arrived in Teheran on Monday at the head of a business delegation for a two day official visit at the invitation of the Iranian Minister of Commerce, which involved the signing of an agreement to protect and promote mutual investment.

On the first day of his stay at the Iranian capital, Paschalides had successive meetings with his Iranian counterpart, with the President of Iran’s Tourism Authority and Vice President of the government, and with the Minister of Finance.

During the Minister’s meetings, issues of common interest were discussed and ways of further developing economic, trade, tourism and investment relations between Cyprus and Iran were examined. In the framework of the meeting with the Iranian Minister of Finance, an agreement was signed for the Mutual Promotion and Protection of Investments between Cyprus and Iran.

During the visit, Paschalides also attended a business forum in which the advantages of Cyprus as an international business centre were presented. He also held meetings with officials of the Iran and Teheran Chambers of Commerce.

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