Abu dhabi: Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade of the United Arab Emirates, spearheaded a high-level delegation from both governmental and private sectors to the Republic of Cyprus with the aim of bolstering trade and investment relations between the two nations. The visit included the participation of Mohammed Saif Al Shehhi, Ambassador of the UAE to Cyprus.
According to Bahrain News Agency, Dr. Al Zeyoudi highlighted the mutual dedication of the UAE and Cyprus to enhance economic collaboration, particularly focusing on strategic sectors such as oil and gas, financial services, renewable energy, logistics, real estate, technology, artificial intelligence, and maritime industries. This was emphasized during his speech at the UAE-Cyprus Business Roundtable.
The UAE Foreign Trade Minister indicated that the visit underscores the UAE’s commitment to broadening its economic partnerships with vibrant, rapidly expanding economies, empowering the private sector to lead in trade and investment cooperation. He pointed out that the increase in non-oil trade between the UAE and Cyprus from the start of the year reveals significant potential for establishing robust economic relations that benefit both nations.
The UAE-Cyprus Business Forum played a crucial role in identifying promising sectors, strengthening connections between the business communities, and unveiling new investment opportunities in both countries. A Memorandum of Understanding was signed to establish the UAE-Cyprus Business Council, which aims to support private sector collaboration across several key economic areas.
Cyprus, an EU member with a services-driven economy, thrives on tourism, ICT, and professional services as growth catalysts. Both the UAE and Cyprus are experiencing economic expansion fueled by diversification, technological progress, and strategic investments.
The UAE regards Cyprus as a vital gateway to European markets, while Cyprus gains from UAE investments in clean energy, artificial intelligence, and infrastructure, enhancing bilateral trade and private sector engagement.
Recent statistics demonstrate a rise in non-oil foreign trade between the UAE and Cyprus, reaching US$176 million from January to September 2025. This marks an increase of 39.4% compared to the same period in 2024 and 25.1% compared to 2023. Approximately 1,850 Cypriot companies operate within the UAE market, reinforcing Cyprus’s role as an economic conduit for the expansion of UAE companies into Europe.