HE Dr. Thani Bin Ahmed Al Zeyoudi, Minister of Foreign Trade, has led a high-level government and private sector delegation to the Republic of Cyprus to strengthen trade and investment ties.
The visit took place in the presence of Mohammed Saif Al Shehhi, UAE Ambassador to the Republic of Cyprus, where Al Zeyoudi met President Nikos Christodoulides and addressed the UAE-Cyprus Business Roundtable.
At the Business Roundtable, the minister underlined the synergies between the two nations and the clear potential for collaboration in sectors such as oil and gas, renewable energy, logistics, real estate, technology and AI.
During the visit, the two sides also signed a Memorandum of Understanding (MoU), establishing the UAE-Cyprus Business Council. The Council will seek to boost private sector collaboration across a wide range of vital economic sectors.
Cyprus, an EU member, has a services-led economy driven by tourism, ICT, and professional services. Both nations are experiencing strong growth, with the UAE viewing Cyprus as a key gateway to Europe and Cyprus benefiting from UAE investments in green energy, AI, and infrastructure.
In the first half of 2025, Cyprus’s GDP grew by 3.2 percent. From January to September 2025, UAE’s non-oil trade with the European nation has reached $176 million, up 39.4 percent year-on-year and 25.1 percent compared to 2023.
Dr. Thani bin Ahmed Al Zeyoudi UAE Minister of Foreign Trade
“Our visit to the Republic of Cyprus underscores the UAE’s commitment to enhancing economic partnerships and fostering private-sector collaboration with agile, high-growth economies around the world. The recent growth in trade between our nations highlights the potential for a more robust and mutually beneficial economic relationship. Today’s discussions will play an important role in this process by identifying the most promising sectors, establishing connections between our business communities and showcasing the opportunities in each other’s markets.”
The UAE offers a dynamic, business-friendly ecosystem that supports investment, collaboration, and innovation across multiple sectors. Through its CEPA program, the UAE is expanding foreign trade and investment, reinforcing its role as a global trade hub.
Nearly 1,850 Cypriot companies operate in the UAE, while the European nation serves as a key gateway for UAE firms expanding into Europe. Continued cooperation is set to deepen bilateral ties and drive sustainable, shared growth.
