Australia and Cyprus embrace renewable energy collaboration

In a recent interview with GOLD magazine, Fiona McKergow, the Australian High Commissioner to Cyprus, sheds light on the burgeoning connections between the two nations. Featured in the magazine's February Cover Story, McKergow highlights the shared values and promising avenues for collaboration between Australia and Cyprus.

As BNN reports, despite a modest trade volume of $265 million in 2020, the exchange of goods such as cheese, curd, and telecommunications equipment lays a solid foundation for future economic engagements. McKergow emphasizes the pivotal role of organizations like the Cyprus Australia Business Association and the Cyprus Chamber of Commerce and Industry in fostering greater economic activity. Anticipated talks for a Double Tax Treaty in 2024 hold promise for strengthening trade relations, providing Australian businesses access to the EU market via Cyprus.

While Free Trade Agreement discussions between the EU and Australia faltered in 2023, McKergow reaffirms Australia's commitment to pursuing a mutually beneficial deal. She acknowledges the challenges but underscores the strategic and economic significance of such an agreement. The High Commissioner also notes Australia's decision to discontinue its 'golden visa' scheme, aligning with Cyprus' earlier move, to pivot towards skilled migration.

The celebration of 50 years of diplomatic ties in 2023 spurred various cultural initiatives aimed at showcasing Australia's rich multicultural heritage. McKergow highlights potential collaborations in new technologies and digitization, leveraging Australia's expertise and Cyprus' energy diversification efforts. Investment opportunities in new technologies and digitization underscore the deepening ties between the two nations.

As Australia and Cyprus embark on deeper economic collaboration and cultural exchange, their enduring partnership reflects shared values and interests. With negotiations underway and a focus on renewable energy, the relationship between Australia and Cyprus is poised for significant growth, promising mutual benefits in the years to come.

[With information sourced from BNN]