Cyprus and UAE step up efforts to deepen economic ties
Cyprus and the United Arab Emirates reaffirmed their commitment to strengthening bilateral economic relations and investment cooperation during a meeting between Cyprus’ Minister of Energy, George Papanastasiou, and the UAE Minister of Economy, Abdulla bin Touq Al Marri in Dubai, on Wednesday.
According to the Ministry of Energy, the meeting took place on the sidelines of GITEX Global 2025, where the Cypriot minister is leading the country’s delegation as part of Cyprus’ national pavilion, organised in cooperation with the Cyprus Trade Centre in Dubai.
The pavilion showcases 14 Cypriot technology firms, underlining the island’s growing presence in the global innovation ecosystem.
The UAE Minister expressed his country’s deep appreciation for Cyprus’ role as a reliable partner in the wider region, reaffirming his government’s readiness to provide all possible support to deepen economic collaboration.
Discussions also focused on the will be establishment of the Cyprus Business Council, which will be based in Dubai and composed of Cypriot businesses operating in the UAE.
Once procedures are completed, its founding members, will sign the statute during a ceremony at the Doers Summit in Dubai on November 26 and 27.
Papanastasiou briefed his counterpart on Cyprus’ upcoming EU Council Presidency starting on January 1, 2026, outlining the country’s key priorities in energy, trade and industry.
The ministers also discussed the prospect of a trade agreement between the EU and the UAE, an issue of mutual interest that remains high on the European agenda.
During the talks, Papanastasiou presented major Cypriot projects such as the Technology Park, Paphos Marina, and several energy interconnection and infrastructure initiatives that aim to bolster regional cooperation.
He also referred to the excellent ties between Cyprus and Egypt, describing them as a stabilising force in the region.
For his part, Al Marri noted the growing interest of UAE companies to operate in Cyprus and briefed Papanastasiou on the upcoming Investopia conference to be held in Athens, where energy and AI data centres will be high on the agenda.
“Without energy, there cannot be the development of new digital technology,” he said.
The ministry’s statement concluded that the two ministers will meet again in November during the Doers Summit, which will coincide with the first general assembly of the Cyprus Business Council.