CSC and Cyprus Sign Trade Cooperation Agreement

The Council of Saudi Chambers (CSC) and Cyprus Chamber of Commerce signed an agreement consisting of seven items to foster bilateral relations between the two countries. The signing took place in Nicosia as part of the Saudi delegation trip to the Republic.

The agreement was signed by CSC Vice Chairperson Muneer bin Saad and Cyprus Chamber of Commerce President Christodoulos Angastiniotis. CSC Acting Secretary General Hussain Al Abdulkader and Saudi Ambassador to Cyprus Khaled Al Sharif were present during the meeting.

Mr. Bin Saad noted the positive impact of the agreement on cooperation between the two business communities, adding that the Saudi delegation’s visit included several meetings between officials from CSC and the Cyprus Chamber. Discussions entailed prospects of cooperation between the two countries, namely, in finance, tourism, contracting, and maritime transport.

The agreement aims to foster bilateral relations and increase the exchange of information in regards to the latest opportunities in both countries. Moreover, the two sides shared suggestions as to addressing challenges that hinder trade.

As per items of the agreement, CSC and the Cyprus Chamber of Commerce shall exchange information on, and promote, the latest investment opportunities in the two countries on a regular basis, and increase business delegations and exhibitions to highlight their respective products. In addition to assisting businesspeople in settling disputes via arbitration, and promoting joint ventures between the two business communities.