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India - Cyprus Business and Cultural Council

Cyprus, an island nation in the eastern Mediterranean, is known for its rich history, stunning beaches, and cultural heritage. It is divided into Greek Cypriot and Turkish Cypriot areas, with Nicosia as its capital, and boasts vibrant tourism and archaeological sites.

Ambassador and Consul General

The Global India Business Forum (GIBF) - an international business chamber, met the High Commissioner of the Republic of Cyprus to the Republic of India, H.E. Evagoras Vryonides, on November 20, 2024.
On behalf of GIBF, Founder and Global President of GIBF, Dr. Jitendra Joshi and Co-founder and Secretary General Deepali Gadkari were present. They presented GIBF’s Honorary Membership memento and brochure to the high commissioner. The GIBF team shared about GIBF’s objectives and initiatives with him. H.E. Evagoras Vryonides and the GIBF team discussed about possible collaboration between the two countries to strengthen economic relations.
Dr. Joshi briefed the ambassador on GIBF’s initiatives to strengthen economic relations between nations through Business and Cultural Councils, an initiative by the GIBF. Dr. Joshi said that the creation of India-Cyprus Business and Cultural Council would significantly help in boosting trade relations between the two nations.
The high commissioner appreciated GIBF’s efforts in promoting bilateral trade and investment opportunities between countries. He also assured the embassy’s commitment to support GIBF’s endeavours.

Pharmaceuticals, Citrus Fruits, Cement and Minerals, Dairy Products (Halloumi Cheese), Tourism Services.

Machinery and Equipment, Vehicles and Transport Equipment, Mineral Fuels and Oils, Pharmaceuticals, Food and Beverages.

About Cyprus

Cyprus is a Mediterranean island nation located at the crossroads of Europe, Asia, and Africa. Known for its rich history, cultural diversity, and stunning landscapes, Cyprus is the third largest island in the Mediterranean. The country is divided into two main parts: the Republic of Cyprus, which occupies the southern portion, and the Turkish Republic of Northern Cyprus, recognized only by Turkey.
Cyprus has been influenced by numerous civilizations, including the Greeks, Romans, Byzantines, Ottomans, and British, which is reflected in its archaeological sites and historical landmarks. Key attractions include the ancient city of Kourion, the Tombs of the Kings, and the Troodos Mountains.
The island enjoys a subtropical climate with mild winters and hot summers, making it a popular destination for tourists. Cyprus is renowned for its beautiful beaches, such as Nissi Beach and Fig Tree Bay, as well as its vibrant cuisine, which features dishes like halloumi cheese, souvlaki, and meze.
Economically, Cyprus thrives on tourism, financial services, shipping, and real estate. It is a member of the European Union, using the euro as its currency. Known as the "Island of Aphrodite," Cyprus offers a unique blend of ancient history, natural beauty, and modern amenities.

Business Opportunities In Cyprus

Cyprus, strategically located at the crossroads of Europe, Asia, and Africa, offers a wealth of business opportunities for investors and entrepreneurs. As a member of the European Union, Cyprus provides a gateway to a large market with over 500 million consumers. Its business-friendly environment includes one of the lowest corporate tax rates in the EU (12.5%), a robust legal framework based on English common law, and access to a network of double taxation treaties with over 60 countries.
The country is renowned for its thriving sectors such as tourism, shipping, financial services, and real estate. Tourism, a cornerstone of the economy, attracts millions of visitors annually, offering vast opportunities for hotel development, leisure activities, and eco-tourism projects. Cyprus is also a major hub for international shipping due to its strategic location and an efficient maritime registry.
Emerging sectors like renewable energy, technology, and education are also gaining momentum. The government supports innovation through grants and incentives, making Cyprus an attractive destination for startups and research-based businesses. Furthermore, natural gas discoveries in its exclusive economic zone have unlocked potential in the energy sector.
With its skilled multilingual workforce, modern infrastructure, and high quality of life, Cyprus is an ideal destination for global investors seeking growth opportunities.

Exports and Imports in Cyprus

Overview In 2022 Cyprus was the number 125 economy in the world in terms of total exports and the number 101 in total imports.

Top Exports Of Cyprus

The top exports of Cyprus are Passenger and Cargo Ships ($1.34B), Refined Petroleum ($512M), Packaged Medicaments ($452M), Cheese ($356M), and Scented Mixtures ($113M), exporting mostly to Hong Kong ($482M), Greece ($471M), Lebanon ($329M), United Kingdom ($276M), and Liberia ($255M).

Top Imports Of Cyprus

The top imports of Cyprus are Refined Petroleum ($2.93B), Passenger and Cargo Ships ($1.37B), Cars ($531M), Packaged Medicaments ($400M), and Coal Tar Oil ($312M), importing mostly from Greece ($2.92B), Turkey ($1.76B), Italy ($1.36B), China ($1.36B), and Israel ($827M).

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