The promising hydrocarbon discoveries in Cyprus’ exclusive economic zone constituted an important parameter of the growing cooperation, the minister said at a reception on Friday night on the occasion of Italy’s national day.

Christodoulides said that Cyprus and Italy were working together to address challenges and accomplish common goals, such as upholding the European project, bringing Europe closer to its citizens, as well as promoting peace and stability in the Eastern Mediterranean. He also expressed Cyprus’ appreciation for Italy’s support to efforts for a settlement to the Cyprus problem.

“Cyprus and Italy are bound together by a shared value base, common interests and goals and a common European vision for our countries, and the Mediterranean region,” he said.

“As reliable partners in the European Union, we have expanded and intensified our cooperation through a dynamic dialogue in an array of fields ranging from political, to economic, to cultural cooperation.”

He said the cooperation within the framework of the so-called ‘MED7’ – the seven Southern European Union member-states was tangible proof of “our commitment to addressing shared challenges.”

“At the same time, we are collaborating closely to expand our economic cooperation. Italy is currently Cyprus’ third-largest trading partner “and there is certainly room for further cooperation”.

Italian energy giant Eni has significant investment in Cyprus’ EEZ.

“The energy sector is one that holds significant potential; the promising hydrocarbon discoveries in the exclusive economic zone of the Republic of Cyprus constitute an important parameter of our growing cooperation,” Christodoulides added.

Italian Ambassador to Cyprus, Andrea Cavallari, said Italy is and would remain at Cyprus’ side, as a true and close partner.

He also referred to the new government in Italy. “Under this new leadership, Italy will continue to act responsibly in Europe and in the world, affirming those democratic values and principles that are enshrined in our Constitution”.

“We know that we can count on Cyprus to pursue together our shared goals: in Europe, to restore the trust of our citizens in a common European project based on greater solidarity and shared responsibilities among EU members; in the Mediterranean region, to make sure that this ancient cradle of civilization remains an area of peace and prosperity for all,” Cavallari added.

Source: Cyprus Mail