Post by : Badri Ariffin

Dubai has made a pivotal move to fortify its economic ties with Cyprus by launching the Cyprus Business Council under the aegis of the Dubai Chamber of Commerce. This council is set to serve as a dedicated platform for businesses, investors, and innovators from both nations to connect, share insights, and explore investment opportunities.

This initiative underscores Dubai’s expanding influence as a global business nexus for Cypriot enterprises. In 2024, the non-oil trade volume between Dubai and Cyprus reached AED 588 million, indicating a steady uptick in commercial interactions. By the conclusion of the third quarter of 2025, 612 Cypriot companies had successfully registered as active members of the Dubai Chamber, with 71 new firms joining within the first nine months of this year.

The council’s inaugural Annual General Meeting saw the participation of prominent officials, including His Excellency George Papanastasiou, the Minister of Energy, Commerce and Industry of Cyprus, along with representatives from the UAE’s Ministry of Economy and Tourism. This gathering emphasized both nations' commitment to fostering enduring partnerships and exploring opportunities for technology transfer, joint ventures, and sustainable development.

Designed to promote practical collaboration, the Cyprus Business Council aims to create actionable business prospects. Through its initiatives, Cypriot firms can expand their footprint in Dubai, leveraging the city’s strategic positioning and infrastructure to access both regional and international markets.

Additionally, this council is part of Dubai Chamber's wider network of Business Councils, which advocate for the interests of companies from specific markets. These councils are instrumental in bolstering bilateral trade and investment, helping to cultivate strong, mutually beneficial economic partnerships that contribute significantly to Dubai’s status as a premier global business hub.

#Global News #Abu Dhabi News #UAE News