By: Gastón Saidman

The recent celebration of the 65th Independence Day of Cyprus was far more than a ceremonial event. It served as a meaningful opportunity to highlight the history and resilience of the Cypriot people, while also showcasing the continuous strengthening of ties between Cyprus and Israel.

In this context, the Embassy of Cyprus and the Commercial Trade Center (CTC) of the Embassy in Tel Aviv, in collaboration with leading Israeli business organizations—such as the Federation of Chambers of Commerce, the Export Institute, the Manufacturers Association, and the Israel-Cyprus Chamber of Commerce—hosted an exclusive Business Leaders Forum.

The event brought together influential Israeli business leaders and investors for a direct exchange with the Minister of Energy, Commerce and Industry of the Republic of Cyprus, Mr. Giorgos Papanastasiou. Discussions focused on identifying new opportunities to strengthen bilateral economic relations, particularly in strategic sectors such as energy, logistics, and technology.

Moderated by CTC Director Sofronis Papageorgiou, the forum emphasized the depth and scope of the commercial relationship between the two countries, spanning goods trade, innovation, tourism, healthcare, and multi-sector investment.

The numbers speak for themselves

In 2024, bilateral goods trade exceeded $1.1 billion, while Israeli exports of business services to Cyprus reached nearly $2 billion, making Cyprus the fourth most important destination for these services. Likewise, Israeli foreign direct investment in Cyprus continues on a strong upward trend.

Minister Papanastasiou also presented Cyprus’s national energy strategy, highlighting key priority areas and investment opportunities. He was accompanied by senior representatives from Invest Cyprus and the Cyprus Chamber of Commerce and Industry, who provided an overview of the country’s economic outlook and practical guidance for interested companies.

This event, held in the context of Cyprus’s independence celebration, not only reflected the shared commitment to dialogue, innovation, and joint development, but also reaffirmed both countries’ desire to build a strategic, robust, and long-term partnership.

To close the event, León Amiras, President of the Israel-Cyprus Chamber of Commerce, emphasized the international relevance of the forum and the shared vision for the region’s energy future:

“This was a high-level international event, with the Cypriot Minister of Energy delivering a fascinating presentation on the economic potential between Cyprus and Israel—especially in the gas sector. According to the announcement, from 2027 Cyprus will begin supplying energy to Israel and other countries in the region. The Minister, an expert in the field, impressed us with top-tier technical solutions,” Amiras stated.

He also highlighted the strategic importance of the partnership:

“Once again, we have shown the strong brotherhood between Cyprus and Israel in all matters related to energy, innovation, and technology, setting aside extremist ideas of war.”