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Indian IT firms show interest to invest in Cyprus
2006-04-14 16:18:57

By Athena Arsalidou

Bombay, Apr 14 (CNA) -- Indian Information Technology firms have shown interest to invest in Cyprus in the field of research and develop logistics.

Cypriot Minister of Commerce, Industry and Tourism, George Lillikas, who is accompanying Cypriot President Tassos Papadopoulos at his official visit to India, said here Friday that the government would submit to the interested companies, its proposals in a bid to attract them to Cyprus.

The Indian firms, he said, can make use of the many benefits offered by Cyprus’ accession to the EU, its geographic position as well as the EU funding programmes in the areas of research and technology.

Today, President Papadopoulos visited Bangalore which is considered to be the third most important city worldwide in Information Technology.

President Papadopoulos and his entourage visited three Indian IT and pharmaceutical companies and were informed on their work.

In statements to the press, Minister Lilllikas said that Cyprus and India could develop research programmes in the framework of the Technology Park that the government wants to establish in the coastal town of Limassol.

''India is a pioneer in the area of information technology worldwide. This is an area that interests us. Some Indian companies have shown interest to come to Cyprus. And we are committed to send them our proposals. There is will for cooperation in the area of research and technology'', Lillikas said.

During his visit to Banagalore, President Papadopoulos met with the State Minister of Karnataka and signed the visitors’ book.

Tomorrow he will visit historic monuments in Bombay and on Sunday, in the morning hours, he will depart for Cyprus.

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