Cyprus and China explore cooperation in energy, tourism and technology

The Cyprus Chamber of Commerce and Industry (Keve) on Thursday released a statement reviewing the outcomes of a major business forum held in Nicosia earlier this week, where Cyprus and China explored opportunities to expand bilateral trade, attract investment and develop business partnerships.

The China-Cyprus Subnational Exchange and Cooperation Forum and Business Forum, organised by Keve in cooperation with the Chinese embassy and the Cyprus-China Business Association on Tuesday, brought together business representatives, local authority officials and institutional representatives from both countries to discuss closer economic cooperation and opportunities for commercial partnerships.

In his opening address, Keve secretary general Philokypros Roussounides said the countries’ longstanding friendship, founded on mutual respect and trust, provided a strong basis for expanding economic ties.

He stressed that the existing strategic partnership needed to translate into practical initiatives delivering tangible benefits for businesses and both economies.

“China, as one of the world’s leading economic powers and a major force in technology, innovation and manufacturing, offers significant growth opportunities for Cypriot businesses,” Roussounides said.

He also highlighted Cyprus’ position as a gateway to the European Union, pointing to its geographical location, business environment, skilled workforce and established professional services sector as advantages that could attract Chinese investment.

Roussounides emphasised the importance of cooperation between local and regional authorities, institutions and business organisations, arguing that dialogue should lead to meaningful and sustainable partnerships.

He cited an agreement between Cypriot company Top Kinisis and Zhejiang Overseas (Ningbo) International Travel Service Co., Ltd. as a practical example of the opportunities available, particularly in tourism cooperation.

Reaffirming Keve’s commitment to supporting Cypriot businesses abroad, he said the chamber would continue to promote bilateral trade and investment and facilitate direct engagement between the two countries’ business communities.

The forum also featured addresses by Chinese ambassador to Cyprus Yang Yundong and Cyprus–China Business Association president Theo Parperis.

Representatives of the Chinese delegation included Wang Rong, director-general of the Standing Committee of the Yancheng Municipal People’s Congress, Yan Xiaoping, a member of the Standing Committee of the Communist Party of China Dazhou Municipal Committee, and Jiao Shuanglin, deputy director-general of the Ningbo Foreign Affairs Office.

Speaking on behalf of the Ministry of Energy, Commerce and Industry, permanent secretary Kyriakos Iordanou highlighted the importance of bilateral trade, Cyprus’ strategic position as a gateway to the EU and the potential for attracting new investment.

Ambassador Yang stressed the need to strengthen practical cooperation, particularly through sister-city partnerships, tourism, innovation and emerging technologies.

He also highlighted Cyprus’ potential to act as a bridge between China and the European Union, helping businesses explore opportunities across both markets.

Parperis referred to the growing importance of bilateral trade and the scope for expanding commercial partnerships by capitalising on Cyprus’ geographical position.

Representatives of the Chinese cities outlined their development priorities and identified potential areas for cooperation, including renewable energy, electric mobility, digital innovation, manufacturing, agriculture, transport and logistics.

They also stressed the importance of strengthening ties between local and regional authorities to support economic cooperation.

Cypriot representatives highlighted further opportunities for collaboration in shipping, tourism, education, financial services, renewable energy and smart-city development.

Contributions came from Andreas Vyras, president of the Union of Cyprus Municipalities and mayor of Larnaca, Charalambos Prountzos, mayor of Nicosia, Marios Tannousis, chief executive of Invest Cyprus, and Marinos Kyriacou, deputy mayor of Amathounta.

The discussions also covered knowledge exchange between local authorities, modern urban planning, innovation, Centres of Excellence and cultural heritage preservation.

Speakers highlighted Cyprus’ advantages as an investment destination and the importance of establishing substantive partnerships between businesses, institutions and educational organisations in both countries.

An important element of the programme was the scheduled signing of a cooperation agreement between Top Kinisis and Zhejiang Overseas (Ningbo) International Travel Service Co., Ltd., focusing on the tourism sector.

The forum concluded with targeted business-to-business matchmaking meetings, giving Cypriot and Chinese companies an opportunity to establish direct contacts and explore potential trade and investment agreements.

Keve said initiatives of this kind formed part of its efforts to expand the international reach of Cypriot businesses and strengthen economic relations between Cyprus and China.