The Cyprus Chamber of Commerce and Industry (Keve) and the Cyprus Fiduciary Association (CYFA) signed a Memorandum of Understanding (MoU) in Nicosia on Monday, setting out what CYFA called a “strategic collaboration” to develop the administrative services sector. 

The agreement was signed by Keve president Stavros Stavrou, secretary general Philokypros Rousounides, CYFA president Costas Christoforou and general director Christoforos Ioannou.  

They said the move underlined the need for cooperation to boost Cyprus’ competitiveness and credibility in the international business environment. 

Under the MoU, the two bodies will exchange information on regulation and market trends, prepare studies, and stage conferences, seminars and networking events to support professional development. 

The agreement also foresees closer cooperation in assisting foreign entrepreneurs investing in Cyprus, while guiding Keve members active with international partners. 

“The signing of the memorandum constitutes a milestone for the administrative services sector… an important step towards the emergence of Cyprus as an international business hub and the further strengthening of the country’s economy,” the announcement concluded.