On October 22, 2020, at the initiative of the Embassy of Ukraine to the Republic of Cyprus and the Ukrainian Chamber of Commerce and Industry, the online meeting “Ukraine and Cyprus. New Prospects for Cooperation" was held.

About 50 representatives of Ukrainian and Cypriot business communities took part in the discussion.

Opening the event, Ambassador of Ukraine to the Republic of Cyprus Ruslan Nimchynskyi stressed that Ukraine continues to implement deep structural reforms to create favorable conditions for the establishment of a comfortable business environment, to significantly improve the investment attractiveness of Ukraine. He emphasized great importance attached by the Government of Ukraine to strengthening political, trade, economic and cultural ties with the Republic of Cyprus.

He stressed the need to use existing opportunities to intensify business contacts, launch new mutually beneficial projects, that is particularly  important in the context of global efforts to overcome the negative effects of the Covid-19.

The importance of intensifying the dynamics of bilateral trade and economic cooperation was outlined in the speeches of President of the Chamber of Commerce and Industry of Ukraine Mr. Gennadiy Chyzhykov, President of the Chamber of Commerce and Industry of Cyprus Mr. Christodoulos Angastiniotis, Ambassador of the Republic of Cyprus to Ukraine Luis Telemachou.

Participants exchanged their views on the investment potential of Ukraine and Cyprus. Representatives of the State Property Fund of Ukraine and “UkraineInvest” - the government office for attracting and supporting investments, informed the Cypriot side about Ukraine's investment attractiveness in the context of the Government's new steps to demonopolize Ukraine's economy.

The Head of the Supervisory Board of the Ukrainian Sea Ports Authority made a presentation on the efforts of the Government of Ukraine to create appropriate conditions for the entry of foreign capital into Ukrainian ports on the terms of a concession.

Ukrainian and Cypriot experts also touched upon future bilateral cooperation in the insurance sector, in particular, regarding the prospects of concluding a relevant bilateral Memorandum of Understanding.