India and Cyprus signed four agreements, including on air services and merchant shipping.

Key Facts

• The two sides signed an executive programme on culture, education and scientific cooperation for the years 2017 to 2020.
• Both sides signed a work plan under a programme of cooperation in agriculture for the period 2017-2018.
• Another agreement was signed on cooperation in the area of merchant shipping.
• A fourth agreement was signed to boost air services between the two countries.
• Cyprus, the eighth largest foreign investor in India, has cumulative foreign direct investment of about $9 billion.
• The investment in the areas of financial leasing, stock exchange, auto manufacture, manufacturing industries, real estate, cargo handling, construction, shipping and logistics.

Source : The Hindu

GS II : Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.