Why India, Cyprus upgrade ties to strategic partnership and set up task force for shipping | Explained
During the bilateral talks, PM Modi hosted Cyprus President Nikos Christodoulides deliberated on the West Asia crisis as well as the Ukraine conflict, with PM Modi saying New Delhi supports all efforts for an early end to the hostilities.
India and Cyprus on Friday on Friday set up a joint task force to facilitate deeper cooperation in sectors such as infrastructure and shipping as Prime Minister Narendra Modi hosted Cyprus President Nikos Christodoulides for wide-ranging talks. During the bilateral talks, the two leaders also deliberated on the West Asia crisis as well as the Ukraine conflict, with PM Modi saying New Delhi supports all efforts for an early end to the hostilities.
Investment from Cyprus to India has nearly doubled: PM Modi
"Over the past decade, investment from Cyprus to India has nearly doubled. Trust between the two countries has increased, and with the India-European Union Free Trade Agreement, numerous new possibilities have emerged," PM Modi said in his media statement.
Taking advantage of this, we are targeting to double this investment again in the next five years, he said. "And to realise this resolve, today we are elevating our trusted relationship to a strategic partnership," he added.
Why India, Cyprus upgrade ties to strategic partnership? Know significance
Significantly, India and Cyprus upgraded their ties to a Strategic Partnership and set up a dedicated shipping and infrastructure task force to leverage Cyprus's unique geostrategic position as a premier maritime hub and gateway to the European Union (EU). Moreover, this will also help to integrate Indian maritime businesses into Mediterranean trade networks and fast-track broader economic integration under the evolving India-EU Free Trade Agreement framework.
In a direct message to Turkey, which helped Pakistan during Operation Sindoor, both the countries elevated their partnership for geopolitical alignment. Both countries are deeply committed to reforming global institutions and promoting peace in the Ukraine conflict and West Asia. Cyprus also reaffirmed its continued support for India's bid for a permanent seat in the United Nations Security Council (UNSC).
PM Modi says friendship between India and Cyprus is both 'strong and futuristic'
The prime minister also noted that the friendship between India and Cyprus is both "strong and futuristic" as he elaborated on various aspects of his talks with Christodoulides. "We also discussed global issues. Whether it is Ukraine or West Asia, we will continue to support efforts for the early end of the conflict and for peace," PM Modi said. "We are also unanimous on the view that reform of global institutions is urgent and important for resolving the growing global challenges," he said.
The prime minister said the two countries also decided to expand cooperation in areas of maritime security and counter-terrorism. In his remarks, Christodoulides said India and Cyprus decided to set up a joint task force for cooperation in key sectors such as infrastructure and shipping. Christodoulides kick-started his three-day visit to India on Wednesday.
Cyprus also supports India's growing global role: Christodoulides
Cyprus President Nikos Christodoulides said, "I wish to take this opportunity to reiterate that Cyprus also supports India's growing global role, including its rightful place in reformed United Nations Security Council." "Prime Minister Modi and I also discussed broader regional and international developments, reaffirmed our shared commitment to international law, the United Nations Charter, and, of course, effective multilateralism principles that matter today more than ever before." "We deeply value India's long-standing support for our efforts to reunify Cyprus, and I wanted to thank you for your steadfast support for the independence, sovereignty, and territorial integrity of Cyprus."
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