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| Libya, Cyprus Sign Economic Cooperation Agreement |
by Lorys Charalambous, Tax-News.com, Cyprus
Monday, June 01, 2009
Following the completion of the work of the Joint Cyprus - Libya Committee, an
important Protocol of Cooperation was signed between the two countries, which
aims inter alia to enhance and further develop their bilateral relations in the
fields of economy, commerce and science.
The Protocol was signed yesterday in Nicosia by the Minister of Finance Mr
Charilaos Stavrakis who was head of the Cyprus delegation at the talks and by
the Minister of Justice of Libya Abdel Jalil, who headed the Libyan delegation.
During the work of the Joint Intergovernmental Meeting, which was convened
on the basis of the bilateral agreement for Economic and Technical Cooperation,
the cooperation achieved so far between Cyprus and Libya in various fields was
reviewed. In addition ways and means were examined in which the existing bonds
of friendship between the two countries could be promoted and enhanced further
in the fields of trade, industry, economy, investment, tourism, services, transport,
health, culture and agriculture.
"Cyprus’s aim is to attract foreign investment companies in Libya, which
could make their investments through Cyprus", the Cypriot Minister said in
a statement after the signing, underlining in particular Cyprus’s tax regime
as the lowest in Europe.
Stavrakis noted that following the meeting he had agreed with Libya to visit
within the coming months to conclude an agreement for the avoidance of double
taxation to further boost trade and investments between Cyprus and Libya.
.
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