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Russia, Cyprus have significant potential in economic cooperation sphere - Lavrov

December 24, 2017, 9:05 UTC+3 MOSCOW

Russia focuses on proactively working with Cyprus for implementation of agreements reached during the official visit of President of Cyprus Nicos Anastasiades to Moscow in October, the minister said

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MOSCOW, December 24. /TASS/. Moscow and Nicosia have significant potential to develop economic cooperation, Russia’s Foreign Minister Sergey Lavrov said in an interview with Simerini newspaper.

Russia focuses on proactively working with Cyprus for implementation of agreements reached during the official visit of President of Cyprus Nicos Anastasiades to Moscow in October 2017, the minister said. "Specific areas of practical cooperation are worded in the final protocol of the tenth meeting of the Russia-Cyprus intergovernmental committee on economic cooperation," Lavrov noted. "We are confident that huge growth potential is present in this sphere," he added.

Trade turnover between the two countries grew notably, the Russian foreign minister said. "Growth in January - September was 42.4% in annual terms," Lavrov said. "It is important to strengthen this positive dynamics. Trade and economic interaction can be intensified by improving the trade structure on account of increasing the share of products with high added value and implementing investment projects," he said.

"As far as the energy sector is concerned, discipline Russian and Cypriot ministries and organizations are studying promising areas of partnership in accordance with decisions and recommendations of the October meeting of the intergovernmental commission, particularly in the field of energy efficiency, renewable energy sources and ‘green’ technologies," Lavrov said.

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