New Delhi, 22 May (H.S.):

Prime Minister Narendra Modi on Friday said that the growing trust between India and Cyprus, along with the India-EU free trade agreement (FTA), has opened up new opportunities, and that both countries will move forward with the goal of doubling investment from Cyprus to India again over the next five years.

In a joint press statement after talks with Cypriot President Nikos Christodoulides, Prime Minister Modi said that India and Cyprus have decided today to elevate their trusted ties to the level of a strategic partnership, which will give fresh momentum and a new dimension to bilateral relations.

PM Modi said that the friendship between India and Cyprus is not only strong but also future-oriented. Shared values such as democracy, the rule of law, and respect for the sovereignty and territorial integrity of all countries form the foundation of the partnership between the two nations. He said India remains fully committed to these principles and will continue to do so.

The Prime Minister said that over the past decade, investment from Cyprus into India has nearly doubled, reflecting the growing trust between the two countries. He said the India-EU free trade agreement has created new economic opportunities, and both countries will now move forward with the aim of once again doubling investment over the next five years by taking advantage of these prospects.

PM Modi said that relations between India and Cyprus have stood the test of time and that becoming a strategic partnership will bring new ambition and new speed to these ties.

He said the two countries have also agreed on a migration and mobility agreement and a social security agreement to further strengthen relations. In addition, agreements are also being worked out in the fields of higher education and culture.

The Prime Minister said that India-EU relations are entering a new golden era. At such a time, Cyprus, while assuming the presidency of the Council of the European Union, is emerging as an important investment gateway between India and Europe.

Referring to global issues, PM Modi said that whether it is Ukraine or West Asia, India will continue to support efforts for the early end of conflicts and the establishment of peace. He said that rapid and meaningful reforms in global institutions are also necessary to address growing global challenges.

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Hindusthan Samachar / Jun Sarkar