There remains significant Cyprus–Bahrain economic potential yet to be unlocked, President of the Republic Nikos Christodoulides stressed on Monday addressing the Cyprus-Bahrain Business Forum.
The President, who is paying Bahrain an official visit, said that this is the first–ever Cyprus–Bahrain Business Forum and noted that both countries possess untapped potential based on their strategic position, their economic dynamism, and their clear role as bridges between regions and markets.
Referring to the current Cyprus Presidency of the Council of the EU, he said that it will attach particular importance to strengthening relations between the European Union and the Gulf expressing belief that Bahrain will be an essential partner in materializing this vision, this priority.
"I truly believe that our Presidency, as well as Bahrain’s chairmanship of the EU–GCC for 2026 and the second EU–GCC Summit scheduled during our Presidency, are not only important milestones but also opportunities to deepen political dialogue, enhance economic cooperation, and translate shared interests into tangible outcomes" he pointed out.
President Christodoulides said that Cyprus offers Bahraini investors a stable, reliable, predictable, EU-based platform for growth and it is the entry point for Europe and it provides full access to the Single Market, the Eurozone, and is supported by a modern, transparent and business-friendly regulatory framework.
At the same time, he said, "our competitive tax system — strengthened by the tax reform in force since January 2026 — combined with the ongoing digitalization of public services, targeted administrative reforms and sustained efforts to reduce red tape, creates a predictable and reliable environment in which businesses can plan, invest and grow with confidence."
"I firmly believe that there is significant potential to further deepen our cooperation in financial services, investment, technology and digital innovation, as well as in construction, infrastructure and connectivity; sectors where the comparative advantages of our two countries clearly align" the President noted.
Furthermore, he said that Bahrain continues to serve as a strategic gateway for Cypriot companies seeking to expand their presence in the Gulf and the wider Middle East and this underscores the reciprocal and mutually beneficial nature of our economic relationship.
"Let us therefore focus on further supporting and expanding this cooperation for the mutual benefit of our companies, our economies and our people" he went on to say.
The Cypriot President said that this deepening partnership is further reinforced by the fact that later on Monday they will officially inaugurate the Embassy of the Republic of Cyprus in the Kingdom of Bahrain.
Cyprus, he pointed out, is the fourth EU member that opens an Embassy in Bahrain and said that, having in mind that Cyprus has less than 50 Diplomatic Missions abroad, "the opening of an Embassy in Bahrain is a clear indication of how we approach the country." The opening of the Embassy "is an important milestone in our relationship and a tangible investment in our future cooperation, providing an institutional bridge to support businesses, investors and closer ties between our two countries" he said.
"Cyprus seeks partnerships that are strategic, long-term and built on trust. And my presence here attests to my firm belief that there remains significant Cyprus–Bahrain economic potential yet to be unlocked" he concluded.
The Cyprus-Bahrain Business Forum was organised by the two countries' Chambers of Commerce & Industry.
(Source: CNA)
