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India, Cyprus vow to curb money laundering
Why is it in news?
- India and Cyprus on Monday signed two agreements on combating money laundering and cooperation in the field of environment as President Ram Nath Kovind met his Cypriot counterpart Nicos Anastasiades and held wide-ranging talks here.
- Mr. Kovind is in Cyprus on the first leg of his three-nation visit to Europe to continue India’s high-level engagements with European countries.
More in news
- India was the fastest growing major economy in the world today with a growth rate of 8.2% last quarter, Mr. Kovind said.
- In this context and given Cyprus’ niche expertise in financial services and investment banking, both of us agreed that there was much scope to deepen our investment partnership.
- India and Cyprus signed two MoUs [memoranda of understanding] on combating money laundering and cooperation in the field of environment in the presence of Presidents of both countries.
- Mr. Kovind and Mr. Anastasiades held discussions on issues of mutual interest, including promotion of business collaboration in the fields of IT and IT-enabled services, tourism, shipping and renewable energy.
Source
The Hindu