Russian President Dmitry Medvedev signed 15 agreements boosting bilateral ties with Cyprus on Thursday, including a key accord abolishing double taxation that officials hope will be a boon to investment in both countries.
Medvedev said overall investment from Cyprus to Russia has exceeded $50 billion (euro37.5 billion) and that the double taxation agreement would further enhance economic cooperation.
Cyprus is a major conduit of investment into Russia with many Russian-owned offshore companies operating on the island, and the accord removes a long-standing thorn in bilateral relations, The Associated Press reports.
Cypriot Foreign Minister Markos Kyprianou cited Russian figures showing that overall investment from Cyprus to Russia until 2008 amounted to $57.6 billion (euro40.8 billion), while Russian investment to Cyprus reached $16 billion (euro11.5 billion).
During the Russian president's visit, 13 agreements will be signed aimed at boosting bilateral commerce, investment and tourism, including a key accord abolishing double taxation between the two countries.
Medvedev is scheduled to arrive in Cyprus at midnight Wednesday and depart late Thursday, BusinessWeek reports.
Russia does not deliberately attack supply lines in Ukraine that supply Western weapons. It has found a new, much more effective and less costly way to destroy it. So say the authors of the Chinese Sohu.