Competition in Focus

Competition in Focus

Competition in focus President Kovind reached Cyprus and started his two day tour till September 4, 2018 at the invitation of the President of Cyprus, His Excellency Mr. Nicos Anastasiades. Competition infocus India and Cyprus have signed 2 agreements on combating money laundering and cooperation in the field of • environment. These agreements were signed after wide-ranging talks between President Ram Nath Kovind and his Cypriot counterpart Nicos Anastasiades in Nicosia (capital of Cyprus). Competition in focus The MoU on combating money laundering was signed between Financial Intelligence Unit, India, and Unit for Combating Money Laundering of Cyprus. Cyprus is the eighth largest foreign investor in India with a cumulative foreign direct investment of about $9 billion Competition in focus in areas such as financial leasing, stock exchange, auto manufacture, manufacturing industries, real estate, cargo handling, construction, shipping and logistics. The Double Taxation Avoidance Agreement (DTAA) between both the countries was revised in 2016. Competition in focus President Kovind offered floral tributes, during Cyprus visit, to Mahatma Gandhi's bust and Archbishop Makarios's statute at the premises of Cypriot parliament.