UAE and Cyprus Deepen Trade and Investment Ties: Unlocking Lucrative Opportunities

The UAE and Cyprus are building stronger economic ties after signing a deal to create a joint business council. Trade between the two countries jumped 39% in the first nine months of 2025, reaching $176 million and showing real momentum in their business relationship.

Dr. Thani Al Zeyoudi, UAE's Foreign Trade Minister, led a high-level delegation to Cyprus this week. The visit focused on expanding cooperation in key sectors like oil and gas, financial services, renewable energy, logistics, real estate, technology, AI, and maritime industries.

The timing makes sense for both countries. The UAE sees Cyprus as its gateway to European markets, while Cyprus benefits from Emirati investments in clean energy, AI, and infrastructure projects. Cyprus, an EU member with a service-based economy, relies heavily on tourism, IT, and professional services for growth.

"Our visit to Cyprus confirms the UAE's commitment to strengthening economic partnerships with dynamic, fast-growing economies worldwide," Al Zeyoudi said during a business roundtable meeting.

The numbers back up this growing partnership. While trade stayed flat for five years, recent data shows a clear upward trend. Non-oil trade hit $176 million from January to September 2025, up 39.4% from the same period in 2024 and 25.1% higher than 2023.

About 1,850 Cypriot companies currently operate in the UAE market. This existing business network gives both countries a solid foundation to build on. The new UAE-Cyprus Business Council will help private sector companies from both sides find opportunities and navigate each other's markets more easily.

For investors and businesses, this partnership opens doors in both directions. UAE companies get easier access to European markets through Cyprus, while Cypriot firms can tap into the UAE's position as a Middle East business hub. The focus on tech, renewable energy, and AI also aligns with global investment trends.

Both economies are growing through diversification and strategic investments. The UAE continues moving away from oil dependence, while Cyprus builds on its strengths in services and its EU membership benefits. This business council should help accelerate that growth by connecting the right companies and sectors.