UAE and Cyprus discuss expanding cooperation in circular economy, innovation, entrepreneurship, and renewable energy

H.E. Bin Touq holds meeting with Cypriot Minister of Energy, Commerce and Industry

H.E. Abdulla bin Touq Al Marri, Minister of Economy and Tourism, met with H.E. George Papanastasiou, Minister of Energy, Commerce, and Industry of Cyprus, to explore ways to strengthen the economic partnership between the UAE and Cyprus in renewable energy, circular economy, innovation, and entrepreneurship, particularly in sustainable activities and sectors.

H.E. Bin Touq affirmed that the economic relations between the UAE and Cyprus continue to witness steady growth, reflecting the strength of their partnership, which spans a wide range of vital and future-oriented sectors. H.E. noted that these ties have recently advanced further with the launch of the first edition of Investopia – Mediterranean last June in Nicosia, Cyprus. The initiative served as a key regional platform for mapping new avenues of investment connectivity and economic cooperation in future sectors - both bilaterally between the UAE and Cyprus and regionally between the UAE and the broader Mediterranean.

H.E. said: “The cooperation between the two countries represents an advanced model that reflects our shared vision of supporting the transition toward a resilient and sustainable economy — one with lower emissions and greater reliance on clean technologies.” He emphasized the importance of the meeting as a practical step to build on the outcomes of Investopia – Mediterranean and to strengthen the partnerships that emerged from it, particularly in the areas of clean energy, the circular economy, entrepreneurship, and innovation in sustainable technologies.

During the meeting, H.E. Bin Touq outlined the UAE's efforts to embed sustainability practices within its economic system and the objectives of the UAE Circular Economy Agenda 2031, which aims to develop the circular economy policies in four vital sectors: transportation, manufacturing, food, and infrastructure. Moreover, the UAE continues to develop a resilient business environment that enables entrepreneurs and SMEs to innovate in the fields of the green economy.  

In detail, the two ministers discussed ways to enhance communication between the business communities of both countries, support the capitalization of investment opportunities in their respective markets, facilitate trade and investment prospects, and explore partnerships in key economic sectors of mutual interest. They also reviewed cooperation opportunities in renewable energy, green hydrogen, education, transport, and advanced technologies. These efforts aim to implement the outcomes of Investopia Mediterranean and strengthen the UAE and Cyprus as regional hubs for investment in the green economy and future-oriented technologies.

Currently, there are nearly 1,850 Cypriot companies operating across diverse activities in the UAE market. Cyprus continues to serve as an important economic gateway for the expansion of UAE companies into key European markets, owing to its strategic location and advanced investment fundamentals within the European continent.