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INDIA, CYPRUS TO COOPERATE IN IT AND HI-TECH SECTORS FOURTH SESSION OF JOINT INDIA-CYPRUS COMMITTEE ON ECONOMIC, TRADE AND INDUSTRIAL COOPERATION

Date : 22 Nov 2000
Location : New Delhi
 

India and Cyprus have agreed to cooperate in the area of information technology and computer software including software development, hardware supplies etc. in view of the good prospects of cooperation in this area. This is indicated in the protocol of the Fourth Session of the Joint India-Cyprus Committee on Economic, Trade, Scientific, Technical & Industrial Cooperation, which was signed here today by Shri L.V. Saptharishi, Additional Secretary, in the Ministry of Commerce & Industry (Department of Commerce) on behalf of the Government of India and by Mr. Panikos Pouros, Permanent Secretary in the Planning Bureau, Government of Cyprus. The Cyprus delegation evinced keen interest in availing of India's professional skills in the field of IT, including specialised computer education facilities which noted Indian computer education institutes could offer. On bilateral trade, both sides recognised that the volume of trade between the two countries was not commensurate with the potential and agreed to diversify and augment the trade through various means including joint ventures, production cooperation and transfer of technology. The major advantages of Cyprus as an international business centre and as a base for marketing of Indian products to European, Middle Eastern and African countries was noted particularly in view of the expected entry of Cyprus into the European Union. A proposal from the Cyprus Chamber of Commerce and Industry for organising an Indian Handicrafts Week in Cyprus was welcomed by the Indian side with an assurance of all help in holding such trade fairs and exhibitions in each others countries which could help in further promotion of trade.

India and Cyprus have agreed to explore cooperation in the marketing and production in Cyprus of jewellery with precious and semi-precious stones from India for export to West Asian and European markets and development and processing of raw materials and minerals, besides exchange of technology and know-how in high-tech areas. Cyprus also agreed to advise its garments manufacturing industry to consider cooperation with the National Institute of Fashion Technology (NIFT). Both sides agreed to promote increased cooperation in tourism and to undertake travel promotion activities through cooperation between tourism organisations and agencies. Cyprus has requested for the placement of an Indian chef in a premier hotel institute of Cyprus to provide training to Indian cuisine. The Indian side responded by stating that this was being done. Proposals for cooperation in agriculture, transport, health, justice, science & technology and education were also discussed by the Committee, underlining the commitment on both sides to pursue practical and effective means for further development of economic cooperation taking advantage of opportunities from the ongoing liberalisation process in both India and Cyprus.

SB/AG/MRS