Qatar will assist with technical expertise and investments to help Cyprus to monetise its recently found gas resources, Minister of Energy and Industry HE Dr Mohammed bin Saleh al Sada said on Monday.
Speaking at a reception organised for Cyprus President Nicos Anastasiades and his accompanying delegation, Sada said that Qatar is ready to extend all kinds of assistance to Cyprus in developing its gas resources which requires 20 billion euros.
Presenting Cyprus as an ideal case for foreign investments, Anastasiades said,”Cyprus is strategically located at the crossroads of Europe, Asia and Africa and has been an important centre of trade since antiquity. A member of European Union since 2004, Cyprus has developed into an ideal hub, swiftly becoming the international destination of choice for doing business.”
“I invite Qatari investors to Cyprus to take advantage of the various opportunities in Cyprus’s diversified and open-market economy. Energy and Power are the main areas where we need Qatar’s expertise and investments,” Anastasiades said.
“I have got a very good response from the top officials of Qatar and I hope that the bilateral trade relations between the two countries will continue to grow,” Anastasiades said.
“My talks with the higher officials of Qatar Investment Authority were also very fruitful. They showed their eagerness of investing in our country,” the Cyprus President said.
The President of Cyprus also had a 30 minute discussion with the Managing Director of QEnergy Europe asking for his contribution to monetising the gas resources in Cyprus Island.
The reception was organised by the Cyprus embassy in Doha, the Cyprus Chamber of Commerce and Industry (KEVE) and the Cyprus Qatar Business Association.
The high-level delegation of Cyprus included Foreign Minister Ioannis Kasoulides, Energy Minister Giorgos Lakkotrypis, Agriculture Minister Nicos Kouyialis, government spokesman Christos Stylianides, Undersecretary to the President Constantinos Petrides, and director of the president’s diplomatic office Nicos Christodoulides.
Christodoulides also said that a number of agreements are expected to be signed between Cyprus and Qatar regarding co-operation in the fields of education, energy, desalination, waste water treatment and legal affairs.
On Tuesday, the president will address the business forum organised by KEVE and Qatar Chamber. During this event, a protocol of co-operation will be signed between the Chambers of Commerce of Cyprus and Qatar Chamber.
The Cyprus President will also meet representatives of Qatargas, QEnergy Europe and the real estate investment company Qatari Diar.