Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has established the Cyprus Business Council.
The new Cyprus Business Council is dedicated to expanding cooperation between the business communities in Dubai and Cyprus, deepening trade and investment ties, and promoting bilateral partnerships across diverse sectors.
The launch of the Cyprus Business Council reflects Dubai’s prominent position as an international business hub for Cypriot companies and investors. During 2024, non-oil trade between Dubai and Cyprus reached $160 million (AED 588 million). By the end of the third quarter of 2025, a total of 612 Cypriot companies were registered as active members of the Dubai Chamber of Commerce, with 71 new companies joining during the first nine months of this year.
The inaugural Annual General Meeting of the Cyprus Business Council was held in the presence of His Excellency George Papanastasiou, Minister of Energy, Commerce and Industry of the Republic of Cyprus. Participants included His Excellency Abdullah Ahmed Al Saleh, Under-Secretary of the UAE Ministry of Economy and Tourism, and Maha Al Gargawi, Vice President of Business Advocacy at Dubai Chambers.
His Excellency Mohammad Ali Rashed Lootah President and CEO Dubai Chambers
“The launch of the Cyprus Business Council marks a strategic step in efforts to deepen trade and investment collaboration between Dubai and Cyprus. The council will serve as a key platform for generating new business opportunities for Cypriot companies in Dubai and enabling their expansion into promising regional and international markets. Its establishment reinforces Dubai’s status as a global hub for business and a preferred destination for forward-looking investors.”
His Excellency George Papanastasiou, Minister of Energy, Commerce and Industry of the Republic of Cyprus, stated that, “The Cyprus Business Council provides a structured platform for businesses, investors, and innovators from both countries to connect, exchange knowledge, and create joint ventures that promote sustainable growth, technology transfer, and shared prosperity. Its establishment is a tangible step forward in strengthening the economic bridge between Cyprus and the UAE, proving that when there are result-oriented collaboration and strong dedication at both the policy and technical levels, great things can happen quickly and effectively.”
The Business Councils operating under the umbrella of the Dubai Chamber of Commerce represent the interests of companies and investors from specific markets operating in Dubai. They work in close cooperation with the chamber to enhance bilateral trade and investments between Dubai and the markets represented, with the goal of developing robust long-term economic partnerships.
