Dubai, Cyprus agree to expand business community partnerships

DUBAI: Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has announced the establishment of the Cyprus Business Council.

The new council is dedicated to expanding cooperation between the business communities in Dubai and Cyprus, deepening trade and investment ties, and promoting bilateral partnerships across diverse sectors.

The launch of the council reflects Dubai’s prominent position as an international business hub for Cypriot companies and investors. During 2024, non-oil trade between Dubai and Cyprus reached Dhs588 million.

By the end of Q3 2025, a total of 612 Cypriot companies were registered as active members of Dubai Chamber of Commerce, with 71 new companies joining during the first nine months of this year.

The inaugural Annual General Meeting of the Cypriot Business Council was held recently in the presence of George Papanastasiou, Minister of Energy, Commerce and Industry of the Republic of Cyprus.

Participants included Abdullah Ahmed Al Saleh, Under-Secretary of the Ministry of Economy and Tourism, and Maha Al Gargawi, Vice President of Business Advocacy at Dubai Chambers.

During his welcome address at the meeting, George Papanastasiou stated, "The Cyprus Business Council provides a structured platform for businesses, investors, and innovators from both countries to connect, exchange knowledge, and create joint ventures that promote sustainable growth, technology transfer, and shared prosperity. Its establishment is a tangible step forward in strengthening the economic bridge between Cyprus and the UAE, proving that when there are result-orientated collaboration and strong dedication at both the policy and technical levels, great things can happen quickly and effectively.”

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented, "The launch of the Cyprus Business Council marks a strategic step in efforts to deepen trade and investment collaboration between Dubai and Cyprus. The council will serve as a key platform for generating new business opportunities for Cypriot companies in Dubai and enabling their expansion into promising regional and international markets. Its establishment reinforces Dubai’s status as a global hub for business and a preferred destination for forward-looking investors.”

Speaking during the council’s inaugural AGM, Maha Al Gargawi, Vice President of Business Advocacy at Dubai Chambers, noted that the Business Councils operating under Dubai Chamber of Commerce play a central role in strengthening connections with international companies and investors. She highlighted their contribution to expanding cooperation with global business communities and outlined ongoing efforts to enhance their impact in advancing Dubai’s trade and investment relations worldwide, supporting the emirate’s economic growth across all sectors.

The Business Councils operating under the umbrella of Dubai Chamber of Commerce represent the interests of companies and investors from specific markets operating in Dubai. They work in close cooperation with the chamber to enhance bilateral trade and investments between Dubai and the markets represented, with the goal of developing robust long-term economic partnerships.