Mumbai: Cyprus President Nikos Christodoulides has announced the establishment of a Cyprus Trade Center in Mumbai, set to commence operations on September 1st this year, during his state visit to India. Addressing the Cyprus-India Business Forum, President Christodoulides emphasized the significance of this initiative in strengthening economic and business relations between the two nations.
According to Cyprus News Agency, the President stated that the Cyprus Trade Center will serve as a hub for business connectivity, facilitating Indian companies in exploring opportunities in Cyprus and Europe. It aims to encourage partnerships with Cypriot enterprises and provide access to the European Union through a stable and compliant business environment. He expressed confidence that this decision would open new avenues for investment, trade, and innovation, reinforcing Cyprus as a reliable entry point for Indian businesses into Europe.
President Christodoulides highlighted Mumbai's reflection of India's ambition and spirit, aligning with the strategic partnership between India and Cyprus. He noted that this energy was evident during the historic visit of Prime Minister Modi to Cyprus, which transformed the relationship into a strategic partnership. He also mentioned the Joint Declaration on the Implementation of the Strategic Partnership, enriched with an Action Plan and Roadmap, as a testament to this evolving relationship.
The forum also saw the signing of six significant agreements between the business communities of Cyprus and India, underscoring the political commitment and strategic partnerships in place. President Christodoulides urged business communities to identify partners and projects, emphasizing the endless potential for collaboration. He highlighted Cyprus' current EU Council Presidency as an opportunity to strengthen Cyprus-India economic and business cooperation within the broader EU-India relations framework.
On his part, Chief Minister of Maharashtra Devendra Gangadharrao Fadnavis underscored the significance of President Christodoulides's visit, marking a new era in India-Cyprus relations driven by strategic ambition and a shared vision. He noted the historical ties and mutual commitment to sovereignty and democracy, acknowledging Cyprus as one of India's steadfast friends in Europe. Fadnavis also referred to Modi's visit to Cyprus in 2025, which created momentum for deeper economic collaboration.
Fadnavis emphasized Cyprus' strategic position as a gateway to Europe, the Eastern Mediterranean, and the Middle East, highlighting its strengths in shipping, logistics, and financial services. He expressed optimism about the potential for extraordinary expansion in the economic relationship, particularly in shipping and maritime cooperation. He invited Cypriot partners to join Maharashtra in shaping future trends and opportunities.
The Chief Minister concluded by highlighting the potential for collaboration between India's financial ecosystem and Cyprus' European financial networks, opening new frontiers in cross-border finance and digital innovation. He extended a warm invitation to Cyprus, encouraging long-term partnerships in growth and innovation.