New Delhi [India], May 22 (ANI): President Droupadi Murmu received her Cypriot counterpart, Nikos Christodoulides, at Rashtrapati Bhavan hereon Friday. She also hosted a banquet in his honour.

Welcoming President Christodoulides and his delegation to India, the President said that India and Cyprus share close relations based on trust and goodwill.

She said that bilateral relations have been elevated to the level of a Strategic Partnership, reflecting the growing maturity, depth, and mutual trust in the India-Cyprus relationship.

President Murmu expressed happiness that India-Cyprus relations are entering a new phase, with expanding cooperation in priority sectors such as defence and security, technology, financial services, connectivity, and maritime cooperation.

She said that Cyprus continues to be among the major sources of Foreign Direct Investment in India.

Companies from Cyprus are showing increasing interest in expanding trade and investment ties with India.

India's vast market, digital transformation, infrastructure, and manufacturing capabilities provide immense opportunities for Cypriot companies and investors.

President Murmu said that technology and innovation have emerged as some of the most forward-looking areas of the India-Cyprus relationship. India's young talent, technological capabilities, and start-up ecosystem can complement Cyprus' innovation ecosystem.

She underlined that there is tremendous potential for cooperation in new sectors such as semiconductors, renewable energy, green energy, space, sustainable development, and Artificial Intelligence.

President Murmu said that during its Presidency of the European Union Council, Cyprus can play an important role in further expanding economic cooperation between India and Europe, particularly after the conclusion of the India-EU Free Trade Agreement.

Murmu appreciated Cyprus' support on important issues such as cross-border terrorism and reform of multilateral institutions.

She reiterated India's unwavering support for the sovereignty, unity, and territorial integrity of Cyprus.

The two leaders agreed that close cooperation between India and Cyprus can bring immense benefits to their peoples. (ANI)