A new era of bilateral economic relations between Limassol and Tel Aviv has been opened in the wake of the signing of a Memorandum of Understanding (MOU) between the Chambers of the two cities. The MOU was signed by the Presidents of the Chambers, Costas Galatariotis of Limassol and Uriel Lynn of Tel Aviv during the Limassol-Tel Aviv Business Day hosted on the premises of the Limassol Chamber of Commerce and Industry, in the presence of government and other officials and business people from both cities.
In his opening speech, Mr. Galatariotis praised the immediate, positive response of the Israeli side to the Limassol Chamber’s invitation for the Business Day and the conclusion of the MOU, highlighting at the same time the prospects for cooperation between companies from the two cities.
With the signing of the MOU, noted the President of Limassol Chamber, the two Chambers have initiated an open channel of communication, through which bilateral entrepreneurship will be facilitated and encouraged. Mr. Galatariotis also noted that, apart from the signing of the Memorandum, the Business Day included the holding of business meetings between Cypriot and Israeli companies and organizations, which proved the readiness of the businesses of the two cities to directly examine the potential of cooperation.
The President of the Chamber of Tel Aviv (and President of the Federation of Israeli Chambers of Commerce) Uriel Lynn, expressed his gratitude to the Limassol Chamber for their initiative and for hosting the meeting and stressed the great potential for cooperation between companies from both cities across the whole spectrum of economic activity. Mr. Lynn noted that the possibilities are unlimited and indicated, for instance, that Cyprus and Israel can operate as a single economy.
After the introductory statements by the two Presidents, the head of the department of international relations of the Chamber of Tel Aviv, Ze'ev Levai proceeded with a presentation of Israel's economy. Next, the Limassol Chamber Board Member in charge of international relations, Heros Miltiadous, presented Limassol as a business destination.
After the signing of the Memorandum of Understanding and the exchange of gifts between the two Presidents, there followed business to business (B2B) meetings which went on until late in the afternoon.
