Prime Minister Narendra Modi said that Cyprus is emerging as an important 'investment gateway' between Cyprus, India, and the whole of Europe and seeing this, we have decided to take our relations to a strategic partnership by mutual cooperation, from joint creation to joint prosperity, and from partnership to joint prosperity. He said that there is an agreement between the two countries that Cyprus will double its investment in India. He said that the two countries have also decided to further strengthen cooperation in cyber and maritime security as well as counter-terrorism. He also emphasized the need for reforms in international institutions to address global challenges. At the same time, India and Cyprus have also signed agreements to increase cooperation in the fields of education and culture. Both sides have also agreed to work together to ensure connectivity through important initiatives such as the Indo-Pacific and the India-Middle East Europe Economic Corridor.
Mr. Modi said this after a bilateral meeting with the President of Cyprus, Nicos Christodoulides, who is on a three-day visit to India, during a joint press conference here on Friday. The Prime Minister said that in the last decade, investment from Cyprus in India has almost doubled. He said that the growing trust between the two countries and the India-European Union free trade agreement have created new opportunities. The Prime Minister said that taking advantage of this, "we are aiming to double this investment again in the next five years. And to fulfill this commitment, today we are giving our trusted relationship the shape of a strategic partnership." He said that the partnership between India and Cyprus will bring together the financial and services sectors of both countries, creating new opportunities for Indian companies in Cyprus' infrastructure, energy, and agriculture sectors. This will also bring new investment to India's rapidly growing shipping and maritime sectors.
The Prime Minister said, "We will accelerate the vision of making the GIFT City a global financial and services hub in collaboration with Cyprus. And we will increase the connection between the innovation and startup ecosystems of both countries." He said that defense and security cooperation is also an important pillar of the relationship. He said, "We are happy that in the last few years, military exchange and training cooperation between the two countries has increased. Today, we have also decided to further strengthen cyber security, maritime security, and counter-terrorism cooperation. Not only that, we will also work together to ensure connectivity from initiatives like the Indo-Pacific Oceans Initiative and the India-Middle East Europe Economic Corridor."
The Prime Minister said that the two countries have also agreed on an agreement on migration and people's movement. He said, "Indian professionals and students living in Cyprus are strengthening the relationship between our people. To further strengthen these relations, we have agreed to sign a comprehensive Migration and Mobility Partnership, and a Social Security Agreement soon." He said that in addition, the two countries are signing agreements on culture and higher education, which will increase cultural exchange and research cooperation between the two countries. Mr. Modi said that the friendship between India and Cyprus is strong and based on a vision for the future. He said, "The mutual trust in values such as democracy and the rule of law is the foundation of our partnership. We respect the sovereignty and regional security of all countries. India is fully committed to these principles and will continue to be so."
The Prime Minister said that India and Cyprus support efforts to resolve the ongoing conflicts in Ukraine and West Asia. He said, "Today, we also discussed global issues. Whether it's Ukraine or West Asia, we will continue to support efforts to resolve conflicts and promote peace. We also agree that reforms in international institutions are necessary to address growing global challenges."
