Cyprus and UAE Reinforce Economic Partnership Ahead of New Business Council Launch

Cyprus and the United Arab Emirates have reaffirmed their shared commitment to deepening bilateral economic relations and advancing investment cooperation during a high-level meeting in Dubai on Wednesday.

The discussions took place between Cyprus’ Minister of Energy, George Papanastasiou, and the UAE Minister of Economy, Abdulla bin Touq Al Marri, underscoring both nations’ intent to strengthen ties across trade, energy, and innovation.

According to the Cyprus Ministry of Energy, the meeting was held on the sidelines of GITEX Global 2025, where Minister Papanastasiou is leading the Cypriot delegation as part of Cyprus’ national pavilion, organised in cooperation with the Cyprus Trade Centre in Dubai.

The pavilion features 14 Cypriot technology companies, reflecting the island’s expanding footprint in the global technology and innovation ecosystem.

Minister Al Marri expressed the UAE’s strong appreciation for Cyprus’ continued partnership, praising the nation’s strategic role in the broader region. He reiterated his government’s readiness “to provide all possible support to deepen economic collaboration,” while highlighting shared interests in promoting sustainable growth and investment flows.

A key focus of the meeting was the planned establishment of the Cyprus Business Council, which will be headquartered in Dubai and comprise Cypriot enterprises currently operating in the UAE. Once procedural steps are finalised, the founding members will sign the statute during a ceremony at the Doers Summit in Dubai on November 26 and 27, marking a new phase in business cooperation between the two nations.

During the talks, Minister Papanastasiou also briefed his UAE counterpart on Cyprus’ upcoming EU Council Presidency, which begins on January 1, 2026. He outlined Cyprus’ core priorities during its presidency, emphasising initiatives in energy, trade, and industrial development.

Both ministers exchanged views on the prospect of a trade agreement between the EU and the UAE, a matter of mutual interest that continues to feature prominently on the European agenda.

Minister Papanastasiou used the opportunity to showcase several flagship Cypriot projects, including the Technology Park, Paphos Marina, and a number of energy interconnection and infrastructure projects designed to strengthen regional cooperation and attract international investment. He also referenced the strong and stable relationship between Cyprus and Egypt, describing it as “a stabilising force in the region.”

For his part, Minister Al Marri pointed to the growing interest of UAE companies in expanding operations in Cyprus, and briefed Papanastasiou on the upcoming Investopia conference to be held in Athens, where energy and AI data centres will take centre stage.

“Without energy, there cannot be the development of new digital technology,” Al Marri stated, underlining the strategic link between energy policy and innovation.

In its concluding remarks, the Cypriot Ministry of Energy confirmed that the two ministers will reconvene in November during the Doers Summit, which will coincide with the first general assembly of the Cyprus Business Council—a milestone expected to further solidify the growing economic partnership between Cyprus and the UAE. 

By fLEXI tEAM