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Cyprus is a member of the United Nations[1] along with most of its agencies as well as the Commonwealth of Nations, World Bank, International Monetary Fund and Council of Europe. In addition, the country has signed the General Agreement on Tariffs and Trade (GATT) and the Multilateral Investment Guarantee Agency Agreement (MIGA). Cyprus has been a member of the European Union since 2004 and in the second half of 2012 it held the Presidency of the Council of the European Union.[2]