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Today's private meeting between the Minister of Energy, Trade and Industry Ms Natasha Pileidou and her counterpart, UAE Minister of Foreign Trade Dr. Thani Ahmad Al Zeyoudi, focused on further strengthening trade relations between Cyprus and the United Arab Emirates (UAE).
The two Ministers explored the prospects of increasing trade flows between the two countries in goods and services, as well as ways of developing cooperation between entrepreneurs from Cyprus and the UAE in specific sectors, such as aquaculture and livestock farming.
The two Ministers explored the prospects of increasing trade flows between the two countries in goods and services, as well as ways of developing cooperation between entrepreneurs from Cyprus and the UAE in specific sectors, such as aquaculture and livestock farming. Ms. Pileidou also referred to Cyprus' efforts to promote Cypriot products that have export potential, such as medicines, halloumi and other products that have been registered with Designation of Origin.
Furthermore, during their meeting, the two Ministers discussed the possibility of cooperation between the two countries in the hotel sector, as well as between universities. With Dr. Thani Ahmad Al Zeyoudi, who was previously UAE's Minister of Climate Change and Environment, they also discussed the prospect of bilateral investments in large-scale Renewable Energy Sources (RES) projects, with special reference to floating solar parks and the Israel - Cyprus - Crete electricity interconnection.
The Minister, after explaining to her counterpart the competitive advantages of Cyprus as an international business centre, such as, inter alia, the offer of a comprehensive range of high quality services, also informed him about the operation of the "Investment Facility Unit". The Unit, Ms. Pileidou explained, aims to quickly and efficiently process requests received from foreign companies to establish and operate a company in Cyprus and, therefore, can assist UAE companies to do business in the EU. Similarly, the UAE Minister of Foreign Trade briefed the Minister on the procedures in place in the UAE to facilitate the establishment of Cypriot entrepreneurs in the country.
The two Ministers finally agreed to proceed with the appointment of a project team from each country, as well as the creation of technical teams, to promote what was discussed to strengthen trade relations between Cyprus and the UAE, with Mrs. Pileidou also proposing the undertaking of joint initiatives, such as the organization of trade missions and seminars, with the participation of the private sector.
Tomorrow, Thursday, February 24, the Minister of Energy, Trade and Industry will be one of the speakers at the Business Forum in Dubai, in the presence of President Anastasiades. Ms. Pileidou will elaborate on the investment opportunities in the green energy sector.
(GA)
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