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21 May, 2024
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Exports of halloumi, medicine and other local products to the UAE

Commerce Ministers discuss enhancing trade relations between Cyprus and the UAE

Source: CNA

The enhancement of trade relations between Cyprus and the UAE, was discussed on Wednesday in Dubai, during a meeting between Cyprus Energy, Commerce, and Industry Minister, Natasa Pilides, and UAE Minister of State for Foreign Trade Thani Ahmad Al Zeyoudi.

Pilides is one of the Cypriot officials who is accompanying Cyprus President, Nicos Anastasiades, during his visit to Dubai.

According to an official press release the two Ministers looked into the prospects of increasing trade transactions between the two countries in goods and services, as well as ways to develop cooperation between Cypriot and Emirati businesspeople in specific fields, such as aquaculture and livestock farming.

Pilides referred to Cyprus` effort to promote Cypriot products and export them abroad, such as medicine, halloumi cheese and other products with protected designation of origin.

They also discussed the possibility of cooperation in the hotel industry but also between universities.

Pilides also discussed with Al Zeyoudi, who, in the past had also served as the UAE`s Minister of Climate Change and Environment, the prospect of bilateral investments in large projects concerning renewable energy resources and especially floating solar farms but also the Israel-Cyprus-Crete electricity interconnection.

She also informed the Emirati Minister about Cyprus` competitive advantages as an international investment center that offers a full range of high-level services and briefed him on the operation of the "Business Facilitation Unit" for the fast and efficient processing of requests from foreign businesses for the establishment of a company in Cyprus or the expansion of activities of existing companies.

Pilides pointed out that this could help businesses based in the UAE set up operations in the EU.

On his part, Al Zeyoudi briefed Pilides about the procedures in the UAE that could facilitate Cypriot businesspeople there.

The two Ministers agreed to appoint a project team leader from each country as well as technical teams to move forward with what they had discussed in order to strengthen trade relations between Cyprus and the UAE.  Pilides also proposed the undertaking of joint initiatives, such as the organization of trade missions and seminars, with the participation of the private sector.

On Thursday, Pilides will be among the speakers at the Business Forum where she is to present investment opportunities in the field of green energy, the press release concludes.

Cyprus  |  UAE  |  business  |  economy

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