ArmInfo. Today, there are all the necessary prerequisites for the development of cooperation between Armenia and Cyprus in the economic, trade, tourist and other mutually beneficial spheres. Fotiu Fotis, Commissioner of the Office of the President of Cyprus on Foreign and Humanitarian Affairs stated during the June 19 meeting with Armenian Prime Minister Karen Karapetyan.
As Armenian government's press service told ArmInfo, Fotis noted that the relations between Cyprus and Armenia are more than friendly, because they are based on historical, cultural and religious ties. Noting that the government of Cyprus is promoting the Armenian Diaspora, he stressed the importance of signing a Memorandum of Understanding between the RA Ministry of Diaspora and the Office of the President of Cyprus Commissioner for External and Humanitarian Affairs, which will become a driver for the development of cooperation between diaspora organizations. At the same time Fotis, noting that Cyprus is interested in further development and deepening of Armenia and EU relations, on its part expressed readiness to provide necessary assistance to the extent possible.
For his part, the head of the Armenian government attached importance to the continued development of interstate relations with Cyprus, based on friendly principles both in bilateral and multilateral formats. The prime minister welcomed the signing of a memorandum of understanding between the RA Ministry of Diaspora and the Office of the President of Cyprus Commissioner for External and Humanitarian Affairs. At the same time Karapetyan stressed the importance of reviving economic ties from the point of view of realizing the potential, and steps aimed at stimulating business representatives' contacts, developing tourism and deepening cooperation.
According to the National Statistical Service of Armenia, the foreign trade turnover between Armenia and Cyprus in 2016 produced $ 2.240 million with an annual growth of 88%. In particular, exports increased 30.6 times to $ 30.6 thousand, with imports growing 85.6% to $ 2.2 million. In January-April 2017, the extra-trading turnover between Armenia and Cyprus increased 3.4-fold to $ 891.2 thousand, with an increase in imports 3.5 times to $ 891 thousand against a background of 93.9% decline in exports to $ 0.2 thousand.