Through support from the Ukrainian Embassy in Cyprus a Cypriot-Ukrainian business association has been established in Nicosia. It will function under the aegis of the Cypriot Chamber of Commerce and Industry, the Cabinet press office informs.

According to the Ukrainian Embassy sources, the association's constituent assembly elected Christos Rotsas, a known Cypriot businessman, the association's president.

The new body's goals were stated as maintaining continuous trade - economic contacts between Ukraine and Cyprus, as well as promoting Ukraine's economic interests in Middle East and North African countries. Taking into account the Cypriot business community's growing interest to Ukraine (over 45 Cypriot businesses have joined the new association), foreign experts predict that shortly bilateral economic relations between Ukraine and Cyprus will assume a more dynamic dimension.


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