Cyprus to open trade centre in Mumbai

Cyprus will open a trade centre in Mumbai in September, President Nikos Christodoulides announced on Thursday during a Cyprus-India business forum. The centre is designed to act as a hub for business connectivity, helping Indian companies explore opportunities in Cyprus and across Europe while facilitating partnerships with Cypriot enterprises. Christodoulides emphasized that the initiative would enhance access to the European Union market through a stable and EU-compliant business environment, reinforcing Cyprus’ role as a reliable entry point for Indian businesses. Six memorandums of understanding were signed between Cypriot and Indian business groups, including agreements between the Society of Indian Defence Manufacturers and the Cyprus Defence and Space Industry Cluster. Other signed agreements involved the Cyprus Chamber of Commerce and Industry (Keve) with the Federation of Indian Chambers of Commerce and Industry (Ficci), Ficci and Invest Cyprus, Keve and the Confederation of Indian Industries (CII), and Eurobank and Ficci. Keve Chairman Stavros Stavrou highlighted Cyprus’ strategic position as a gateway for Indian businesses expanding into Europe and the wider region. He noted that Cyprus, as an EU and Eurozone member, is situated at the crossroads of Europe, the Middle East, and Africa, offering stability, connectivity, and credibility. Stavrou added that Cyprus provides direct access to the European market through a trusted jurisdiction with a sophisticated ecosystem of legal, financial, and professional services. The trade centre aims to build stronger economic and commercial links between Cyprus and India, supporting Indian companies seeking opportunities in Cyprus and Europe. Christodoulides stated that the centre would serve as a practical bridge between the two business communities, facilitating partnerships and enhancing market access. Cyprus has evolved into an international business hub, particularly in sectors like financial technology, shipping, energy, and investment funds, making it an attractive base for cross-border expansion.