Dubai Chamber of Commerce launches the Cyprus Business Council

Dubai, 3 December / WAM / The Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, announced the establishment of the Cyprus Business Council, with the aim of enhancing joint work between the business communities in Dubai and Cyprus, consolidating mutual trade and investment relations, and stimulating bilateral partnerships in various sectors.

According to a press release issued today, the establishment of the Council reflects the prestigious position that Dubai enjoys as a global business center for Cypriot companies and investors, as the volume of non-oil trade between Dubai and Cyprus during the year 2024 reached about 588 million dirhams, while 71 new Cypriot companies joined the membership of the Dubai Chamber of Commerce during the first nine months of this year, and the total number of active Cypriot companies registered in the Chamber’s membership rose by the end of last September to 612 companies.

The first meeting of the Cyprus Business Council witnessed the presence of His Excellency George Papanastasiou, Minister of Energy, Trade and Industry of Cyprus, His Excellency Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy and Tourism, and Maha Al Gergawi, Vice President of the Business Community Interest Support Sector at Dubai Chambers.

In a speech he delivered during the meeting, His Excellency George Papanastasiou said that the Cyprus Business Council constitutes an integrated platform that allows companies, investors and innovators to communicate, exchange knowledge, and establish joint projects that contribute to promoting sustainable growth, transfer of technology and achieving common prosperity.

He stressed that the establishment of the Council represents a tangible step towards strengthening the economic bridge between Cyprus and the UAE, and an emphasis on the importance of commitment and effective cooperation at various levels to achieve the desired results.

For his part, His Excellency Mohammed Ali Rashid Lootah, Director General of Dubai Chambers, said that the establishment of the Cyprus Business Council represents a strategic step towards expanding the horizons of trade and investment cooperation between Dubai and Cyprus, as it will contribute a pivotal role in developing new opportunities and partnerships for Cypriot companies operating in Dubai and supporting their expansion into promising markets from the emirate, which consolidates Dubai’s position as a global business center and a leading investment destination.

For her part, Maha Al Gergawi stressed, in her speech during the meeting, that the business councils operating under the umbrella of the Dubai Chamber of Commerce constitute an essential pillar in improving ties between companies and investors, as they contribute to expanding the scope of joint work and constructive cooperation between business communities.

She reviewed the efforts made to enhance the role of these councils in developing trade and investment relations with countries around the world, thus contributing to supporting the growth of Dubai’s economy in all sectors.

The business councils, which operate under the umbrella of the Dubai Chamber of Commerce, represent the nationalities of investors who practice their activities in the Emirate of Dubai, and through cooperation and coordination with the Chamber, the focus is on enhancing bilateral trade and investments between Dubai companies and the companies of these countries and markets that the councils represent, with the aim of developing economic partnerships.

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