His Excellency Abdullah Bin Touq Al Marri, the Minister of Economy and Tourism, met with Georgios Papanastasiou, the Minister of Energy, Commerce, and Industry of the Republic of Cyprus. The two officials discussed opportunities to enhance the exceptional economic partnership between the United Arab Emirates (UAE) and Cyprus, focusing on new pathways for cooperation in renewable energy, circular economy, innovation, and entrepreneurship, particularly within sustainable activities and sectors that support mutual economic growth and investment prospects.
His Excellency Abdullah Bin Touq Al Marri emphasized that the economic ties between the UAE and Cyprus are continuously evolving, reflecting a solid partnership across a broad array of vital and future-oriented sectors. He noted that the economic collaboration has made significant advancements recently with the inaugural launch of “Investopia – Mediterranean” in June, hosted in the Cypriot capital of Nicosia, which has served as a dynamic regional platform for charting new investment connectivity and economic cooperation in future sectors at both the bilateral level between the UAE and Cyprus and regionally across the Mediterranean.
He stated, “The cooperation between the two nations exemplifies an advanced model that reflects our shared vision to support the transition to a flexible, sustainable, low-emission economy that relies more on clean technology.” He affirmed that this meeting marks a practical step to build on the outcomes of Investopia Mediterranean and strengthen the partnerships that have emerged, especially in areas like clean energy, circular economy, entrepreneurship, and sustainable technology innovation.
During the meeting, His Excellency Abdullah Bin Touq Al Marri presented the UAE’s efforts to establish sustainability practices within its economic framework and highlighted the goals of the UAE Circular Economy Agenda 2031, aimed at developing policies for the circular economy in four vital sectors: transportation, manufacturing, food, and infrastructure. He pointed out that the country continues to cultivate a flexible business environment that empowers entrepreneurs and small to medium enterprises to innovate in green economy sectors.
The two sides explored ways to enhance communication between the business communities of both countries, support the realization of investment opportunities within their markets, and facilitate investment and trade initiatives. They also discussed partnership prospects in key economic sectors of mutual interest, and opportunities for collaboration in renewable energy, green hydrogen, education, transportation, and modern technology, all contributing to the implementation of Investopia Mediterranean’s outcomes and solidifying the UAE and Cyprus as regional hubs for investment in the green economy and future technologies.
It is noteworthy that the UAE markets host approximately 1,850 Cypriot companies engaged in various activities, while Cyprus serves as a crucial economic gateway for Emirati businesses expanding into strategic European markets, given its advantageous location and advanced investment attributes in the European continent.