End-of-year report for 2012. The Moscow Chamber of Commerce and Industry’s commission for trade and economic cooperation with partners in the Republic of Cyprus

23 January 2013

During this reporting period, in order to establish and strengthen working relationships and promote Russian commercial interests in the Republic of Cyprus, as well as to help to develop relationships between interested Russian and foreign businesspeople, the Moscow Chamber of Commerce and Industry’s commission for trade and economic cooperation with partners in the Republic of Cyprus organised the following activities:

1. In the spring of 2012, under the patronage of Mrs Elsie Christofia, wife of the president of Cyprus and honorary president of the Cyprus Children’s Fund Committee, and in conjunction with the Embassy of the Russian Federation in the Republic of Cyprus, the Republic of Cyprus Ministry of Education and Culture, the Moscow Region Ministry of Education, OAO Bank of Moscow, the urban district of Balashikha and the Moscow-based non-governmental organisation Patriot, the Moscow Chamber of Commerce and Industry’s commission for trade and economic cooperation with partners in the Republic of Cyprus launched the “Children of Peace” project. This project features a programme of exchanges involving children from Russia and Cyprus, offering them the opportunity to rest and also to learn about the culture, traditions and customs of the two countries. Between 4 and 30 July 2012, a group from the Republic of Cyprus, including children from deprived families, visited the urban district of Balashikha, with funding provided by Bank of Moscow. Russian children are scheduled to visit the Republic of Cyprus in the spring of 2013. This charitable project is designed to broaden social contacts and boost cooperation between individuals and charitable organisations in Russia and Cyprus, in order to provide a supportive social environment for children from deprived families. This project is also important in an official sense, in terms of promoting Russian investment and projecting a positive image of Russian companies and government agencies abroad.

2. The commission took part in the Russia-Cyprus investment forum, which took place on 10 February 2012 in Limassol. The event was organised by the Russian Chamber of Commerce and Industry, the Cyprus Chamber of Commerce and Industry, the Business Council for Cooperation with Cyprus and the Cyprus-Russia Business Association. The chairman of the commission on trade and economic cooperation with partners in the Republic of Cyprus, Doctor of Law Dmitriy Konstantinovich Labin, presented a report looking at issues relating to double taxation and recent changes introduced by the 2010 Protocol to the Agreement between the Government of the Republic of Cyprus and the Government of the Russian Federation on the Prevention of Double Taxation relating to Taxes on Income and capital, signed on 5 December 1998.

3. On 24 October, the commission held a meeting with Natalya Svyatoslavovna, an aide to the commercial counsellor at the Commercial Department of the Embassy of the Republic of Cyprus in Moscow. The Commercial Department at the Embassy of the Republic of Cyprus in Moscow was opened by the Republic of Cyprus Ministry of Trade, Industry and Tourism in order to represent Cyprus’ economic and trade interests in Russia and the countries of the CIS. As a result of the meeting, work is now under way to draw up an agreement on the exchange of information between the Moscow Chamber of Commerce and Industry’s commission for trade and economic cooperation with partners in the Republic of Cyprus and the Commercial Department of the Embassy of the Republic of Cyprus in Moscow.

4. The commission took part in the third annual “Luxury Russian Dinner", the aim of which is to strengthen and develop business ties with Russia.

In order to contribute to the development of trade and economic relations between the Republic of Cyprus and the Russian Federation, the commission will focus on consolidating the results that have already been achieved, as well as implementing new projects designed to serve the interests of the member organisations of the Moscow Chamber of Commerce and Industry.

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© 2011, Business Council for Co-operation with Cyprus

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