The Abu Dhabi Chamber of Commerce and Industry signed a cooperation agreement with Cyprus Chamber of Commerce and Industry to boost economic and investment cooperation between Abu Dhabi and Cyprus.

Signing the cooperation agreement comes on the sideline of the meeting the Abu Dhabi Chamber organized with Cyprus Investment Promotion Agency (Invest Cyprus) at the Chamber’s tower in Abu Dhabi, which was attended by Abu Dhabi Chamber Board Members H.E. Fouad Darwish and H.E. Khalid Anib; His Excellency Khalid Anib, His Excellency Mohammed Helal Al Mheiri, Director General of Abu Dhabi Chamber; Yannis Matsis, Chairman of Cyprus Investment Promotion Agency; and Dinos Mitsides, Vice Chairman of Cyprus Chamber, signed the cooperation document on behalf of his organization; along with a number of representatives of the business community in Cyprus.

In his welcoming remarks, H.E. Fouad Darwish said that the UAE and Cyprus share strong historical relations facilitating additional and stronger economic cooperation, especially that both the UAE and Cyprus  have amassed significant capabilities and have the ambitions and desire to  enhance  their productive, economic and investment cooperation in several  industrial and economic sectors in accordance with  the legislative ecosystem in line  with the best international practices.

“The business environment in Abu Dhabi is very attractive for investors who wish to seize the opportunities and of the lucrative investment climate given our advanced infrastructure and economic legislative system that protects investors and their investments alike,” he added.

The Board Member pointed out that the Abu Dhabi Chamber, being the business channel and vocal of the  emirate, and the signing of the cooperation agreement with Cyprus Chamber will help further cement the economic cooperation between businesses in both countries, especially after signing the cooperation agreement which would assist businesses explore the many and variant  investment opportunities in both Abu Dhabi and Cyprus.

Cooperation Agreement

Mr. Dinos Mitsides, Vice Chairman of Cyprus Chamber, said that signing the cooperation agreement with Abu Dhabi Chamber is the first step in boosting the already good bilateral economic relations between business in both the UAE and Cyprus.

“I urge the business communities of both countries to further explore the potentials that exist,” he said, pointing out that Cyprus and the UAE enjoy a robust cooperation and the his government is determined to maintain and explore further expansions.

The Vice Chairman commended the meeting with the Abu Dhabi Chamber  and signing the cooperation agreement which would pave the way for mutually beneficial cooperation in several sectors including energy, innovation, technology, agriculture and trade.

Investing in Cyprus

For his part, Mr. Yannis Matsis, Chairman of Cyprus Investment Promotion Agency, pointed to the efforts exerted to enhance the trading and investment relations between Abu Dhabi and Cyprus businesses, especially as the world is steadily exiting a prolonged period of uncertainty caused by the COVID-19 pandemic.

He pointed out that Cyprus economy proved to be more resilient to the coronavirus crisis compared with other southern European economies, and that his country is deploying our plan towards sustainable and long-term development. “Today, we are here to further our trading relations, a corporation that we are sure will be fruitful and beneficial to both the Abu Dhabi and also the Cyprus businesses of commerce, trade and industry,” he said.

It is worth noting that presentations on investment in Cyprus were delivered during the meeting, which came as part of Invest Cyprus campaign held by Cyprus Investment Promotion Agency.