Doing Business in Cyprus (UAE Edition)

DOING BUSINESS C YPRUS
35
UNITED ARAB EMIRATES EDITION
O
ur bilateral relations with the United Arab Emirates (UAE) have come a long way
in the past few years. Historically, our relations are strongly founded on peopleto-people
and business relations. The UAE is a second home to many Cypriots and
there are currently numerous Cypriot companies operating in the UAE, in addition
to the participation of our country in the major commercial exhibitions and business
fora, which undoubtedly contributes to the strengthening of our bilateral relations
with the UAE. Only three hours’ flight away from the UAE, Cyprus has further become
a popular destination for UAE citizens and expatriates alike, making it the closest
European country to the Gulf region.
In addition, our relations are founded on our common values and principles and
transposed via our shared vision for our wider region through practical ways of
promoting security and regional stability. In this sense both our countries endorse
practical ways of promoting the notion of ‘regional multilateralism’ in a way that it
will generate geopolitically advantageous capital for future generations. Cyprus and
the UAE are strong advocates of the positive quality shift unleashed by synergies
that are developing out of networks of project-based cooperation, launched by the
historic Abraham Accords and the Negev Platform, in which the UAE has made a most
instrumental contribution. We see eye to eye on the remarkable potential of linking
up these networks with trilateral platforms of cooperation launched by Cyprus and
Greece together with, inter alia Egypt, Israel and Jordan.
Likewise, I was delighted to visit the UAE in June 2022, upon the kind invitation of
my dear friend and colleague HH Sheikh Abdullah bin Zayed bin Sultan Al Nahyan.
I was pleased to hold very productive discussions on a multiplicity of key issues in
which the UAE’s contribution is crucial, not only because of its global footprint on
matters such as climate change, food and energy security as well as the fight against
terrorism, but also on topics that are dominant in the international agenda and in
which the UAE’s support via its current membership in the UN Security Council is
indispensable.
I ought to acknowledge in this respect the mutual commitment of both of our
countries to strengthen and diversify our partnership at a bilateral, trilateral and
multilateral level. This is tangibly reflected in the frequent visits of high-level officials,
including the flagship visit of President Anastasiades to Dubai in February 2022,
in the framework of Cyprus’ national day celebrations at the Dubai EXPO2020. The
President was in fact accompanied by a large delegation of nine Ministers, as well
as the Government’s agency for the attraction of investment, who held productive
bilateral meetings with their counterparts. A number of bilateral agreements were
signed, with the most important being the joint declaration on the establishment of
a Comprehensive Strategic Partnership, focusing on political, defence and military
cooperation, energy, trade and investments, tourism and culture, education, science
and technology, and shipping and maritime transport. The Partnership which
provides for a yearly Strategic Forum, sets a clear roadmap of practicable deliverables
in all the aforementioned areas of cooperation.
It is therefore evident, that Cyprus and the UAE already share a prolific in nature and
mature in essence strategic trajectory that cross cuts all levels. I am confident that these
excellent relations will continue to prosper and become even more robust in the years
to come, to the benefit of our countries and our peoples, as we aim to foster conditions
of tolerance, peace, security, prosperity and stability in our common wider region. n