In the presence of Mohammed Saif Al Shehhi, the UAE Ambassador to the Republic of Cyprus, Dr. Thani Bin Ahmed Al Zeyoudi, Minister of Foreign Trade, led a high-level government and private sector team visited the country in an effort to improve trade and investment relations.
Al Zeyoudi met with President Nikos Christodoulides during the visit and spoke at the UAE-Cyprus Business Roundtable, highlighting the two countries’ synergies and the obvious potential for cooperation in industries like oil and gas, renewable energy, logistics, real estate, technology, and artificial intelligence.
The two parties also signed a Memorandum of Understanding (MoU) establishing the UAE-Cyprus Business Council during the visit. The Council will work to increase private-sector cooperation across several key economic areas.
Cyprus, an EU member, has a predominantly services-based economy, with professional services, tourism, and information and communications technology (ICT) serving as strong drivers of growth. Strong economic growth is being experienced by both the UAE and Cyprus, thanks to strategic investments, tourism, technological innovation, and economic diversification.
Cyprus benefits from UAE investments in sectors such as infrastructure, green energy, and artificial intelligence, which are driving increased bilateral trade and private-sector involvement. The UAE sees Cyprus as a significant gateway to Europe.
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