Nicosia: The EuroMED Days conference in Nicosia underscored the necessity of enhancing economic collaboration, investment flows, and technological connectivity among Europe, the Middle East, and Africa. This event took place as part of the Cyprus Presidency of the Council of the European Union.
According to Cyprus News Agency, participants at the conference concluded that the Mediterranean is entering a new era of strategic importance due to geopolitical shifts, supply chain reconfigurations, the energy transition, and the digital economy. These factors present both challenges and opportunities for investment, partnerships, and sustainable growth.
During the conference, Invest Cyprus Chairman Evgenios Evgeniou highlighted Cyprus's historical role as a cultural and trade crossroads. He emphasized the country's growing importance as a bridge connecting Europe, the Middle East, Africa, and Asia, especially amidst geopolitical uncertainties and changing economic conditions. Investors are seeking stable jurisdictions with institutional credibility and long-term growth prospects, which Cyprus offers through full access to the European Single Market, a business-friendly environment, and strategic geographical positioning. The country has also experienced one of the highest growth rates in the European Union, with the technology sector now contributing approximately 14% of GDP.
ANIMA Investment Network President Tarak Ch©rif stressed the importance of stronger economic ties between Europe, the Middle East, and Africa to create growth and employment opportunities, particularly for younger generations. He emphasized the necessity of maintaining dialogue and building trust-based relationships as international institutions and traditional forms of multilateral cooperation face challenges.
In the same context, BusinessMed President Tarek Tawfik proposed a model of shared production and prosperity for the region's future. He highlighted the need for reciprocal cooperation across the Mediterranean, with mutual benefits for all parties. Tawfik noted that despite significant potential, economic integration remains fragmented, with successful initiatives like the East Mediterranean Energy Hub and energy interconnections serving as examples of regional cooperation.
Deputy Minister to the President Irene Piki emphasized the Mediterranean's growing significance for the European Union, especially in light of recent global developments. She identified four priority areas for future investment and policy cooperation: energy, digital connectivity, transport and logistics, and human capital. Piki highlighted the Mediterranean's potential to become a hub for attracting skilled professionals, researchers, and entrepreneurs.
World Investment Conference President Dr. James X. Zhan analyzed the shift from global value chains to more regionalized production ecosystems, driven by geopolitical developments, sustainability requirements, and technological transformation. He described a new 'tripolar' economic model centered around three major economic blocs: Asia, the Americas, and the wider European-Mediterranean region, with the Mediterranean gaining prominence as a regional hub.
Deputy Minister of Research, Innovation and Digital Policy Dr. Nicodemos Damianou focused on technological sovereignty and the importance of digital infrastructure. He stressed the need for European technological autonomy in critical digital technologies and described the Mediterranean as a critical space for digital connectivity and strategic cooperation, with Cyprus serving as a reliable digital gateway.
Nicosia Mayor Charalambos Prountzos highlighted cities' roles as key drivers of economic development and investment attraction. He argued that smaller cities like Nicosia can act as 'living laboratories' for testing innovative technologies before scaling them to larger markets. Prountzos also addressed the challenges cities face in attracting investment for smaller-scale infrastructure projects, calling for new financing instruments tailored to European urban centers.