New Delhi, May 22 (IANS) Cyprus President Nikos Christodoulides and Prime Minister Narendra Modi, at their meeting held here on Friday, agreed to elevate the relations between the two countries to a strategic level with deeper cooperation in defence and transport connectivity, according to senior government officials.

Noting that Prime Minister Modi visited Cyprus last year, the officials said that the “traditionally excellent relations” have now been elevated to a strategic level. “Over the past year, we have seen several important developments in our bilateral relations,” an official said.

“Cyprus is interested in strengthening cooperation with the Indian defence industry and also wants the defence industries of the two countries to work together. President Nikos Christodoulides is reported to have highlighted that the European Union is investing more than 150 billion euros through the SAFE instrument to enhance defence and security across the EU and its member states. Cyprus is eligible for 1.2 billion euros, and is interested in enhancing its military capabilities and exploring the possibility of procuring from India,” an official said.

The two sides agreed that the Defence Minister will visit soon to discuss defence cooperation and specific products of interest, the official said.

In order to enhance transport connectivity, the relevant Transport Minister will hold meetings with Air India and IndiGo regarding the possibility of starting direct flights. There is interest from both companies, and the direct connectivity is expected to be established by the end of the year.

Indian companies have already invested in Cyprus and have full access to the European market in a number of sectors, including defence, manufacturing, and technology. Cyprus serves as an important gateway to Europe.

In Mumbai, there is already strong business cooperation between the companies of the two countries across various sectors, and there is potential for further expansion. Cyprus has decided to open a trade office in Mumbai from September 1 this year. It will be sending additional high-level diplomats to its mission in New Delhi.

The shooting of the first Bollywood film in Cyprus has been announced. Filming of the romantic story will begin this June, and the film is expected to be released on 14 February next year.

In Mumbai, Eurobank has also opened its first representative office. It is important that this bank is working on integrating systems, including UPI, which will be operational in Cyprus next year. This will enable users in Cyprus to use the system, and in the future, it will also support non-Indian users, including those investing between the two countries.

The Cyprus presidency began with the announcement of a Free Trade Agreement in January. The country is now working with the European Commission and India to prepare the legal documents so that the agreement can be signed as soon as possible.

Several other agreements are also under negotiation with the European Union, including an Investment Protection Agreement and cooperation on climate and security projects. A Security of Information Agreement is already in place, along with a Security and Defence Partnership. Sectoral engagements planned for 2026 include a maritime security dialogue, a cyber dialogue, a counter-terrorism dialogue, and a Green Hydrogen Task Force.

–IANS

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