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Natural gas may play a major role in India-Cyprus bilateral trade

India expects to double share of natural gas in the country's energy mix to more than triple imports to 70 mt per year by 2022

Press Trust of India  |  Kolkata 

Natural gas may play a major role in India-Cyprus bilateral trade

has the potential to play an important role in greater between and in the years to come, a said on Monday.

is a major importer and here may play a role in exporting gas to India,” High Commissioner to said on Monday during an interactive session at the Merchants’ Chamber of Commerce and Industry.

He, however, clarified that no serious dialogue had been going on at present between the two countries in this regard.

India expects to double share of in the country’s energy mix to more than triple imports to 70 million tonnes per year by 2022 for which more terminals are being planned.

Cyprus, an island country in the Eastern Mediterranean, has also made promising

Merchants’ said in 2015-16, between the countries was $107 million.

However, Cyprus was the eighth largest investor in India with cumulative foreign direct investment (FDI) of $8.5 billion in varied sectors.

Theophylactou said that India-Cyprus Double Taxation Avoidance Agreement would work out to be more positive in the long run.

He said it was a tool to provide impetus to attract investors as it brings certainty, security and stability to their investments.

First Published: Tue, April 10 2018. 01:49 IST
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