Cyprus wants in on India-Europe trade corridor as shipping push turns to Mumbai

Cyprus is pushing for a place in the next phase of the India-Middle East–Europe Economic Corridor (IMEC), as Shipping Deputy Minister Marina Hadjimanolis prepares to lead a maritime business delegation to India in a fresh effort to strengthen the island’s commercial ties with Asia. Speaking on RIK1’s (CyBC) Apo Mera se Mera programme, Hadjimanolis explained that Cyprus was seeking a greater role in connecting India with Europe, drawing on its geographical position, maritime infrastructure and established network of shipping and professional services. Participation in the economic corridor remained a firm objective, she explained, with Cyprus seeking to be included in its next phase, particularly because of the specialised services offered by the island’s maritime industry. The comments come as preparations enter their final stage for the Cyprus–India Maritime Business Forum, scheduled to take place in Mumbai on November 23, bringing together Cypriot shipping businesses and potential Indian partners. The deputy minister will be accompanied by Cyprus Chamber of Commerce and Industry (Keve) president Stavros Stavrou and a business delegation comprising senior executives from across the island’s maritime sector. As previously reported, around 25 Cypriot companies are expected to participate in the mission, which is intended to open up opportunities for new partnerships, investment and business cooperation. However, Hadjimanolis stressed that the visit was about considerably more than bringing companies together. “This is not simply a business mission,” she explained, adding that the objective was to present Cyprus shipping in its entirety, including the country’s competitive advantages and the extensive range of services, activities and specialised businesses that form its maritime ecosystem. The initiative also follows commitments made by President Nikos Christodoulides and Indian Prime Minister Narendra Modi to strengthen relations between the two countries, particularly in trade, investment and business cooperation. For Cyprus, the opportunity extends beyond shipping itself. Hadjimanolis pointed to the island’s ability to respond quickly to business needs, its established services sector and its position between Europe and the wider region as advantages that could appeal to Indian companies looking to expand their international presence. “We have learnt to act quickly, to respond to any challenges,” she remarked, presenting that responsiveness as one of the characteristics distinguishing Cyprus as a maritime and business centre. The forthcoming visit builds on the first joint maritime committee meeting between Cyprus and India, held in Limassol on September 29. That meeting brought together government officials and maritime representatives from both countries to examine practical ways of strengthening their cooperation under the existing bilateral shipping agreement. Discussions covered maritime education, training, investment opportunities and the exchange of technical expertise, laying the groundwork for further contacts during the Mumbai visit. Hadjimanolis described the meeting as an important step towards putting the agreement into practice, with the forthcoming business mission expected to build on the technical discussions already held. Meanwhile, the India initiative follows an extensive diplomatic and commercial campaign in Japan, China and South Korea, where the deputy minister travelled between October 13 and 29 to promote the Cyprus flag and develop new business relationships. During the visit, she held meetings with government officials, shipowners, shipbuilding companies and other representatives of the maritime industry, focusing on opportunities for cooperation and the promotion of Cyprus as an international shipping centre. The results, according to Hadjimanolis, were “very encouraging”, with the government intending to maintain contact with all three countries. She also drew attention to the importance of Asian shipbuilding for Cyprus, estimating that around 80 per cent of vessels registered under the Cyprus flag had been constructed primarily in China and Japan. With shipbuilding, vessel conversions and repairs concentrated in major Asian maritime centres, she argued that maintaining close relationships with these markets was particularly important for the Cypriot shipping industry. The deputy minister also highlighted the reception Cyprus received during her visit, pointing out that the island was among three countries, alongside France and Greece, invited to open a major shipping business conference in China. For Hadjimanolis, such participation reflected the international recognition of Cyprus shipping and the efforts being made to expand its presence in key maritime markets. The Asian campaign has also placed considerable emphasis on technology, innovation and the exchange of expertise, areas in which Japan, China and South Korea remain important international players. Earlier in the day, Hadjimanolis had participated in a maritime technology event organised by Plug and Play Cyprus and Tototheo Global, bringing together companies involved in shipping and technological innovation. She linked these activities to the broader effort to present Cyprus as more than a ship registry, emphasising the range of specialised businesses and services supporting the maritime industry. At the same time, she congratulated Anthi Theocharous on her election as president of the Limassol Chamber of Commerce and Industry, expressing her readiness to work closely with the chamber to further promote shipping in the city.