Cyprus and Vietnam seek closer trade and investment ties

Cyprus and Vietnam explore cooperation in shipping, tech and energyCyprus and Vietnam have explored opportunities to expand bilateral trade, investment and technological cooperation at a business forum held in Nicosia on Friday, with the Cyprus Chamber of Commerce and Industry (Keve) highlighting the potential for closer economic ties between the two countries. The Cyprus–Vietnam Two-Way Trade and Investment Forum, hosted at the chamber’s premises, brought together government representatives, diplomats, business organisations and research institutions to examine ways of strengthening commercial relations and encouraging new partnerships. In its announcement, Keve said the discussions focused on high-value sectors, including shipping, tourism, professional services, technology and renewable energy, as well as research, innovation and higher education. Opening the forum, Keve Deputy Secretary General Emilios Michael highlighted what he described as the complementary strengths of the two economies, arguing that geographical distance should not prevent closer business cooperation. He pointed to Vietnam’s dynamic economic development and expanding role in international supply chains, while presenting Cyprus as a business and investment hub offering companies access to the European market. Michael also stressed the importance of making effective use of the EU–Vietnam Free Trade Agreement, saying the existing institutional framework should be translated into practical commercial opportunities. Keve said that it remained committed to supporting the internationalisation of Cypriot businesses and facilitating partnerships that could deliver long-term benefits to both countries. The Minister of Energy, Commerce and Industry, Michael Damianos, also addressed the forum, focusing on the prospects for strengthening bilateral economic relations and the importance of developing trade and investment links with dynamic Asian markets. Vietnam’s Ambassador to Cyprus, Nguyen Phuong Anh, offered a strategic overview of relations between the two countries, highlighting opportunities to expand business cooperation and build on the closer relationship between Vietnam and the European Union. Invest Cyprus chief executive Marios Tannousis presented the country’s business and investment environment, outlining its advantages as an international investment destination. His presentation highlighted Cyprus’ access to the EU Single Market and its potential to serve as a base for companies seeking to expand across the wider region. Duong Phuong Thao, Counsellor at the Vietnam Trade Office in Italy, outlined Vietnam’s trade and investment environment, focusing on opportunities for Cypriot companies to enter the Vietnamese market and establish new commercial partnerships. Research and innovation also featured prominently in the programme, with representatives of two Cyprus-based centres of excellence presenting their work and prospects for international cooperation. Andreas Andreou, Business Development and Technology Commercialisation Executive at the Eratosthenes Centre of Excellence, outlined the organisation’s activities and the scope for turning scientific research and technological expertise into practical applications through cooperation with industry. CYENS Centre of Excellence General Director Yiorgos Chrysanthou presented the centre’s capabilities, highlighting opportunities for international partnerships in research, digital technologies and innovation. Keve said it attached particular importance to developing economic relations between Cyprus and Vietnam, as well as making better use of the opportunities offered by both markets. The chamber said initiatives such as the forum were intended to bring the two business communities closer, facilitate new partnerships and contribute to the long-term expansion of bilateral trade and investment. The discussions reflect an effort to broaden Cyprus’ commercial links beyond its traditional markets while exploring opportunities in Vietnam, whose growing role in international supply chains could offer scope for cooperation across several sectors.