India and Cyprus have signed two agreements on combating money laundering and cooperation in the field of environment.
a. Seychelles
b. Cyprus
c. Bulgaria
d. None of the above
- These agreements were signed after wide-ranging talks between President Ram Nath Kovind and his Cypriot counterpart Nicos Anastasiades in Nicosia (capital of Cyprus).
- President Kovind visited Cyprus on the first leg of his three-nation visit to Europe including Bulgaria and Czech Republic to continue India's high-level engagements with European countries.
Further Details:
- The MoU on combating money laundering was signed between Financial Intelligence Unit, India, and Unit for Combating Money Laundering of Cyprus.
- This agreement will further strengthen the institutional framework to facilitate investment cross-flows.
About India-Cyprus ties:
- Cyprus is the eighth largest foreign investor in India with a cumulative foreign direct investment of about $9 billion in areas such as financial leasing, stock exchange, auto manufacture, manufacturing industries, real estate, cargo handling, construction, shipping and logistics.
- The Double Taxation Avoidance Agreement (DTAA) between both the countries was revised in 2016.
- Diplomatic ties between India and Cyprus were established in 1962.
- Cyprus got the support of India during its struggle for independence from British colonial rule.
- Bilateral trade between both the countries stood at EUR 76.5 million in 2015.
- The major commodities exported by India to Cyprus are organic chemicals, vehicles & accessories and iron & steel.
- India's main imports are aluminium and its products, wood pulp, machinery, boilers, engines, and plastic.
Question:
Q. India and which country have signed two agreements on combating money laundering and cooperation in the field of environment?a. Seychelles
b. Cyprus
c. Bulgaria
d. None of the above
