Cyprus Chamber of Commerce and Industry (CCCI) and Federation of Saudi Chambers have signed a Memorandum of Cooperation and an agreement to set up a Saudi – Cyprus Business Council, aiming at strengthening and boosting bilateral trade relations.
According to a press release issued by CCCI the Council will have a main purpose to open economic sectors promoting links between Saudi and Cypriot firms, exchange views and information concerning challenges and opportunities offered in their respective markets, as well as to strengthen investment cooperation between businesspeople of the two countries.
The Memorandum, promoted by Cyprus Ambassador Stavros Avgoustides in Riyadh, was signed by CCCI Secretary Marios Tsiakkis and the by Hussein Abdulqader on behalf of the Saudi Chambers of Commerce.
Furthermore, Cypriot and Saudi business people held B2B meetings during a business mission in Jeddah on June 5, as well as closed meeting between Cypriot officials and Jeddah Chamber of Commerce officials.
On June 7 a business forum was held in Riyadh addressed by the Cypriot Deputy Minister for Research, Innovation and Digital Policy Kyriakos Kokkinos, Tsiakkis, the President of the Cyprus – Saudi Business Association, Demos Anastasiou, Cyprus Ambassador Stavros Avgoustides and the Riyadh Chamber of Commerce Vice Chairman Naif Abdullah Al Rajhi.
The mission ascertained the vast prospects for cooperation between Cyprus and Saudi Arabia including in the fields of tourism, manufacturing, digital technology, green growth renewable sources of energy and constructions, the press release said.
The mission was organized by the CCCI in collaboration with the Cyprus – Saudi Business Association on June 4 – 8 with the participation of a 19-member Cypriot business mission from various sectors.
Source: Cyprus News Agency