South Africa’s Ambassador to Greece (also accredited to Cyprus), S. Makgetla, recently visited the Limassol Chamber Offices and met with LCCI President Costas Galatariotis.
Receiving Mr. Makgetla and his associates, Embassy Advisor D. Du Plessis and the head of the Embassy’s Commercial Department A. Mavrides, the LCCI President noted that, although commercial exchanges between Cyprus and South Africa are limited, there are prospects for bilateral cooperation as indicated, among others, by the reported interest of a South African organisation in the casino-resort due to be built in Cyprus in the near future. This project, he continued, will be the first of its kind in Europe and is to be governed by legislation which is considered attractive to interested investors. Mr. Galatariotis also referred to the government scheme for ‘Naturalization of Investors in Cyprus by exception’, as well as to the ongoing process towards the privatization of the port of Limassol.
Ambassador Makgetla referred to the signing of an agreement between Cyprus and South Africa for the avoidance of double taxation which, he said, is expected to be ratified shortly and will have a beneficial effect on bilateral economic relations. The South African diplomat referred to the presence in South Africa of a numerically substantial Greek and Cypriot diaspora, as a factor that could contribute to enhancing bilateral relations. As for South Africa’s priorities, he mentioned the shipping industry and renewable energy.
The head of the commercial department at the Embassy of South Africa, Anthony Mavrides, referred to the establishment last year of the Cyprus-South African Business Association, under the auspices of the Cyprus Chamber of Commerce and Industry, as well as to the planned visit to South Africa in October of a CCCI-led Cypriot business delegation.
Mr. Du Plessis hailed the achievements of Cyprus, and Limassol in particular in the fields of shipping and shipmanagement.
Article Source: http://www.sigmalive.com/inbusiness/more/business-guides/lcci/south-african-ambassador-visits-lcci