This Forum was organised on the occasion of the official visit of Russia’s President Dimitry Medvedev to the Republic of Cyprus and take place on October 7 at Hilton Hotel Nicosia. The event was organised jointly by chambers of commerce and industry, the societies of friendship between the two countries, and by the Cyprus-Russia association of businesses. The forum were attracted about 500 businesses, where about 160 came from Russia.
Russia and Cyprus signed a tax treaty on Thursday that is expected to boost bilateral business ties and reaffirm Cyprus's status as the primary source of foreign investment to Russia.
The tax treaty which was agreed and the relevant protocol was signed in April 2009, is now in force. The signing of the treaty will have as an immediate effect the removal of Cyprus from the Russian so called "black list" and at the same time dispel any uncertainty in this area.
The signing of the treaty gives a positive boost on the existing Cyprus Russian business relationships
