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Cyprus: Bilateral agreements signed between Cyprus and Bahrain

charalambous.jpg

Katerina Charalambous

On March 9 2015 Nicos Anastasiades, President of the Republic of Cyprus, officially visited Bahrain, accompanied by Ioannis Kasoulides, Minister of Foreign Affairs, and the government spokesman, Nicos Christodoulides. The delegation was welcomed by the King of Bahrain Hamad bin Isa Al Khalifa at the Palace in Manama. Four bilateral agreements were signed between Cyprus and Bahrain including the avoidance of double taxation treaty, which follows the OECD Model Convention for the Avoidance of Double Taxation on Income and on Capital.

In addition, bilateral agreements were also signed in the areas of fighting terrorism and organised crime, air service and cooperation in the field of health. Kasoulides has signed the agreements on behalf of the Cyprus Government.

The Cyprus President decorated the King with the Grand Order of Makarios III, which is considered to be the highest accolade awarded by the Republic of Cyprus, while King Hamad bin Isa Al Khalifa decorated Anastasiades with the Medal of the Order of Al Khalifa.

Issues concerning EU-Bahrain relations, local and international affairs, political concerns and other financial and economic aspects were discussed. The primary purpose of the bilateral agreements and official visit to Bahrain was to promote and strengthen relations with the Gulf states to attract and boost investment into Cyprus.

The two countries will support and promote the commercial and economic interaction between them.

The Cyprus Government welcomed the King's decision to open an embassy in Nicosia.

Katerina Charalambous (katerina.a.charalambous@eurofast.eu)

Eurofast, Cyprus Office

Tel: +357 22 699 222

Website: www.eurofast.eu

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