Iranian ambassador to Cyprus has stressed the need for the relaunch of regular and direct flights between the two countries which he said would give a further boost to bilateral trade.
Alireza Salarian made the remarks in a specialized conference on trade opportunities of Cyprus which was hosted by Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA).
Direct flights used to be operating between Iran and Cyprus some 20 years ago while flights between the two countries are now being carried out via third countries, the ambassador said, adding that transportation problems are hindering bilateral exchanges.
Salarian also referred to an agreement for avoiding double taxation between the two countries which he said provides a chance for Iranian businesspeople to start businesses in Cyprus.
Iran-Cyprus Joint Committee to be launched
In the meantime, Sama Farkhondeh Nejad, the director of Europe Department of ICCIMA International Affairs, said that the Iran Chamber of Commerce plans to launch an Iran-Cyprus Joint Committee which will be composed of businesspeople from both countries.
She regretted that Iran’s trade balance with Cyprus is not positive, adding that Iran exported some $432,000 worth of commodities to Cyprus while importing some $9.6 million from the European country.
Cyprus can serve as Iran’s gateway to Europe as the European Union is considered its main trade partner, Farkhondeh Nejad said.
She added that the energy sector, especially the new energies and the renewables, can be one of the main areas for cooperation between Iran and Cyprus.
Low tax rate in Cyprus, a good chance for foreign investors
Sabina Tofan, commercial attaché of the Cyprus Embassy in Iran, also addressed the conference and said that her country attaches special significance to relations with Iran.
She said that Cyprus experienced more than 150% progress in attracting foreign direct investment (FDI) last year and is the third world country in FDI attraction.
The diplomat added that tax rates in Cyprus are 12.5% lower than that of other European countries which she believed provides a good chance for foreign investors.