OFFICIAL LAUNCH OF FIRST CYPRUS-SAUDI BUSINESS ASSOCIATION

 Cyprus Mail 14 October 2020 - by Jean Christou

The first-ever Cyprus-Saudi Arabia Business Association was officially launched on Wednesday in Nicosia under the auspices of the Cyprus Chambers of Commerce (Keve), opening new prospects for promoting economic and trade relations between the two countries.

More than 80 companies have joined the Limassol-based association which is expected to play a leading role in further strengthening relations, Keve said.

The first resident Saudi Ambassador to Cyprus presented his credentials to President Nicos Anastasiades last September and a flight programme was scheduled for this year but had to be postponed due to the pandemic.

Wednesday’s launch was addressed by the energy minister, Natasa Pilides, and the permanent secretary of the foreign ministry, Cornelius Corneliou, and Saudi diplomats.

Pilides praised the “tangible results” that have come so far from the growing relations between the two countries, adding that they would be “even more impressive” if it had not been for the pandemic.

“Relations between Saudi Arabia and Cyprus are extremely close and positive and we would like to further promote them both politically and economically,” she said.

Corneliou described the creation of the association as “a milestone in bilateral relations” following the opening of embassies in Nicosia and in Riyadh.

He also referred to the first-ever visit last August by a Saudi foreign minister.

Keve president Christodoulos Angastiniotis, described Saudi Arabia as an important economic and business partner for both the Cypriot economy and the chamber itself.

“Saudi Arabia is a huge and very friendly country to Cyprus. We are 100 per cent politically aligned,” he said.

Keve said the main goal was to expand and encourage cooperation between companies in both countries but also to be able to inform the Saudi business community of the investment opportunities in Cyprus as well as the development of the island as a base of business activities aimed at EU markets and those of other countries.

The newly elected president of the joint business association, Dimos Anastasiou of Logicom, said he would make every effort to achieve the stated goals for the mutual benefit of both countries. One of the first priorities is to organise a business mission to Saudi Arabia in 2021.