Limassol: The United Arab Emirates (UAE) sees Cyprus and the broader Mediterranean as strategic partners in building a resilient and innovation-driven regional economy, as UAE Minister of Economy Abdullah bin Touq Al Marri said on Tuesday, during a panel discussion at the Investopia Global Mediterranean Forum in Limassol.
According to Cyprus News Agency, Al Marri highlighted the geographic, cultural, and historical ties between the UAE and the Mediterranean, noting their proximity and shared interests. He emphasized the importance of identifying strategic areas for partnership in Cyprus and the Mediterranean, particularly those that support economic resilience, diversification, and innovation-led growth.
Al Marri outlined a vision for deeper regional convergence, urging not only stronger UAE-Cyprus cooperation but also broader integration between the Gulf Cooperation Council (GCC) states and the Mediterranean. He identified sectors such as energy, infrastructure, digitalization, SMEs, and artificial intelligence as ripe for joint investment.
The Minister noted the active participation of Cypriot investors in the UAE and the Gulf region, describing the relationship as a two-way system that works effectively. He shared insights from conversations with Cypriot investors, many of whom are considering expanding their presence in the UAE and GCC.
Al Marri stressed the potential for a strategic alliance, highlighting the growing interest from both sides. He emphasized the opportunity for both the UAE and the GCC to view the Mediterranean as a key investment partner.
In particular, Al Marri addressed the challenges and opportunities in energy connectivity, specifically high-voltage energy transmission. He suggested that this area is ripe for cooperation between the GCC and Mediterranean, requiring significant investment and cross-border collaboration.
Additionally, Al Marri introduced the concept of Investopia, describing it as a platform to address global challenges and promote ‘new economies’. He identified opportunities in sectors such as digitalization, tourism, logistics, and any field with a digital platform as part of this emerging economic landscape.