The competitiveness of Cyprus as a center of international business and the prospects for Russian companies and investors, in the light of recent developments in the economy, will be addressed by a conference organized by the Cyprus-Russian Business Association (CCCI) on September 19, entitled "The future of Of Cyprus for Russian Companies ".Through the conference, the CCCI tries to send the message that despite the developments in the financial sector, Cyprus is still on the international business map and competing with claims of countries with a similar business environment such as Malta and Luxembourg.
As the Director of the Cypriot-Russian Business Association (CCCI) Andis Nathanael noted while speaking to KYPE, "the banking sector is one thing and the activity of international companies in Cyprus is another".
He said that some companies have certainly left Cyprus, but the majority remain, despite the outflow of deposits. A company, he added, may be managed by Cyprus and the funds may be located elsewhere.
Stressing the need to highlight the fact that Cyprus remains a center of international operations, despite what has happened in the Cypriot economy, Mr. Nathaniel expressed the belief that with determination and dynamism Cyprus will slowly recover.
"The fact that one of Switzerland's largest law firms, Withers LLP, which sends clients to both our competitors and Cyprus, has agreed to be co-organizer, says a lot in itself," he said.
Equally important, according to the Director of the Cypriot-Russian Association, is the fact that speakers from Luxembourg and Malta, which are competing countries towards Cyprus, will participate.
"The field of international business is still attractive, we still have many comparative and qualitative advantages over foreign countries," he said.
The conference will be greeted by the President of the Republic Nikos Anastasiadis and the Ambassador of Russia to Cyprus Stanislav Osadchiy.
The organizers are the Cypriot-Russian Business Association (CCCI), the international law firm Withers LLP (based in Zurich) and the law firm Chrysafini & Polyviou DEPE.
It is expected that it will be attended by a number of Russian businessmen from both Cyprus and Russia, as well as accounting, law firms from Cyprus.
Internationally renowned speakers from Cyprus as well as from Zurich, Malta, Luxembourg and Russia will analyze the prospects for the continuation of the Cyprus-Russia economic cooperation.