"The trust generated by the accomplishments of the Cyprus economy is evident in the number of companies from Greece choosing to invest in the Cypriot market in the banking, retail and other sectors," Konstantinos Kollias, Greek Ambassador to Cyprus has said.
In a recent interview with GOLD magazine, Kollias shares his views on the longstanding, strong relationship between Greece and Cyprus and shows how it continues to evolve in new ways.
Among other things, the Ambassador talks about ongoing cooperation within the defence sector as part of wider EU-wide efforts, while bilateral cooperation between government agencies in both countries continues to be solid in fields such as science, tourism, education, and technology, among others.
"Greece and Cyprus have developed a steadily strengthening partnership in cybersecurity, digital transformation and advanced technological innovation, reflecting a shared strategic vision within the broader European digital and security framework," he notes.
His Excellency also puts particular emphasis on the two countries' strong maritime sector cooperation, noting, "Greece and Cyprus share common interests in EU and international fora, collaborate closely in maritime education and training, and on issues such as the security of navigation, decarbonisation, technology and digital transition. We work in parallel and in partnership across a broad maritime agenda."
Having been posted to Cyprus from 2003 until 2008 and once again presenting his credentials in Nicosia in September 2025, Kollias also shares his personal experiences of life on the island.
Greece and Cyprus have always enjoyed strong bilateral cooperation. Can this relationship be further deepened and what advantages are there for both countries if its scope is expanded?
The relationship between Greece and Cyprus has always been exceptionally close, as it is built on strong ties that go far beyond typical bilateral cooperation. Rooted in shared language, cultural traditions, historical experiences and common values, these bonds have created a deep sense of solidarity and mutual understanding between the two countries. This unique partnership, based on trust and unity, is constantly growing stronger.
A key development was the establishment of the annual Intergovernmental Summit between the two countries in 2023. This is not only a symbolic initiative but a practical and structured mechanism that allows us to coordinate more effectively at the highest level, enabling us to come together to discuss priorities and align policies, ensuring that bilateral cooperation produces concrete results.
From our perspective, this summit has added real substance to the relationship. We are now in a position to systematically review our progress, identify new opportunities for collaboration and address any challenges in a timely and coordinated manner. This mechanism also allows us to broaden the scope of our cooperation. We now have the tools to expand it into additional areas and deepen it where it already exists. It is also important to highlight its political significance.
Close coordination enhances our ability to act together in wider regional and international developments. This is particularly valuable in an increasingly complex and unstable international environment, where cooperation is essential for the benefit of the daily lives of citizens. So, in fact, this relationship is already being further deepened. Through the above initiatives, we are taking concrete steps to strengthen and expand our cooperation, ensuring that the partnership between Greece and Cyprus continues to grow in both depth and substance.
Recent developments in the Eastern Mediterranean and the Middle East have shown Cyprus’ vulnerability in what can be a volatile neighbourhood. Has this increased the potential for cooperation in the defence industry between Greece and Cyprus?
The potential for cooperation between Greece and Cyprus in the defence industry has been underlined on various occasions and, may I say, well before the current geopolitical crisis, which has again confirmed the need for cooperation at both an EU and bilateral level, and among companies. In recent years, the Cypriot defence industry has made steady and significant progress and Cyprus demonstrates a growing involvement in research, innovation and collaborative projects. The sector’s rising technical capacity has the potential to contribute to economic development by seeking deeper integration into European defence supply chains.
The progress of the Cypriot and Greek defence industry ecosystems is also driven by EU initiatives. Through the European Defence Fund, launched in 2021, cooperation between companies and research actors of all sizes and geographic origins in the EU is promoted. Other EU instruments such as the Security Action for Europe (SAFE), of which €1.18 billion has been earmarked for Cyprus, investments and cooperation in the sector among EU member States are enabled.
The defence industry incorporates important aspects of technological advancement, closely linked to research and innovation, driving further sectors of the economy. A detail of importance for Cyprus and Greece is that, according to European Commission data, SMEs play a central role in the complex defence supply chains in Europe. There are currently more than 2,500 SMEs in European defence.
Now that the economies of both countries are growing steadily, what steps can be taken to further encourage cross-border entrepreneurship and investment by Greek and Cypriot companies?
Cyprus is an important trade partner for Greece. In 2025, Cyprus was Greece’s 3rd largest market, accounting for 6.8% of our exports. Greece is also among the most important export destinations for Cypriot products. Investment flows between our countries are also rising. The trust generated by the accomplishments of the Cyprus economy is evident in the number of companies from Greece choosing to invest in the Cypriot market in the banking, retail and other sectors.
The range of intergovernmental initiatives that foster enhanced collaboration in all fields of economic activity is multifaceted and, at the same time, addresses the need for cooperation with regional partners as is the case with the trilateral schemes of cooperation in which Cyprus and Greece participate. Enhancing the bilateral institutional framework, encouraging the international presence of our businesses abroad, fostering cooperation schemes and utilising European frameworks and projects in order to boost collaborations are some of the initiatives through which bilateral economic cooperation can be intensified.
Bilateral cooperation between government agencies is solid in fields such as science, tourism, education, technology, etc., all of which foster and enhance our economic cooperation. I should also note that our institutional cooperation is constantly evolving and developing. For example, in April, Enterprise Greece and Invest Cyprus, which enjoy a longstanding and fruitful collaboration, renewed their Memorandum of Cooperation. Such cooperation is crucial and recent geopolitical turmoil, as well as challenges such as climate change and technological advancement, make it imperative that we enhance our collaboration in sectors such as cybersecurity, water management and technology.
The 3rd Greece-Cyprus Intergovernmental Summit in November reaffirmed the strong and multifaceted bilateral cooperation between the two countries, with significant emphasis on areas that directly support economic development and investment and tackle modern challenges. At the same time, the business institutions of both countries enjoy a longstanding cooperation, building upon government initiatives and advancing them forward by highlighting various sectors according to the needs and interests of the business community. I am confident that Greece and Cyprus will continue to advance economic cooperation, thereby building a stable and vibrant business environment.
Cyprus has developed into a major ship management hub, while Greece remains one of the world’s largest shipping nations. Do you see these complementary strengths shaping future cooperation or are the two countries in competition when it comes to maritime issues?
It is important to acknowledge that, globally, the shipping industry has faced significant challenges in the past few years. The Greek and Cypriot shipping sectors are adapting to all of these, exhibiting the resilience and flexibility that they have had for decades. As in every business sector, there will be elements of competition – attracting investment, skilled talent and headquartering of shipping companies – but maritime relations between Cyprus and Greece should be viewed primarily as a strategic partnership. Greece’s position as one of the world’s leading ship-owning nations, controlling a significant share of global tonnage, provides a powerful foundation of capital, expertise and global market presence. Cyprus, at the same time, has successfully developed as an important ship management and maritime services centre, with an internationally competitive business environment. This creates an opportunity for coordination and common initiatives to strengthen the broader maritime cluster, which contributes significantly to the economy of both counties.
In this respect, we maintain close cooperation, aiming to promote the competitiveness of the broader European maritime industry. Greece and Cyprus share common interests in EU and international fora, collaborate closely in maritime education and training, and on issues such as the security of navigation, decarbonisation, technology and digital transition. We work in parallel and in partnership across a broad maritime agenda. Cooperation is also reflected in everyday operational coordination. The Hellenic Maritime Attaché of Famagusta, based in Limassol, provides an important institutional bridge by offering maritime-related services across Cyprus.
Digital transformation is now a key priority across Europe. How are Greece and Cyprus cooperating in areas such as digital government, cybersecurity and digital infrastructure?
Greece and Cyprus have developed a steadily strengthening partnership in cybersecurity, digital transformation and advanced technological innovation, reflecting a shared strategic vision within the broader European digital and security framework, and closely aligned with key EU priorities and initiatives, strengthening Europe’s digital sovereignty. Coordination between the Greek Ministry of Digital Governance and the Cypriot Deputy Ministry of Research, Innovation and Digital Policy continues to support policy alignment, regulatory convergence, capacity building and the development of secure and interoperable digital infrastructures.
Bilateral cooperation is expanding across multiple strategic domains. In cybersecurity, Greece and Cyprus maintain close coordination between their national cybersecurity authorities, particularly in information sharing, incident response preparedness and participation in European-level exercises coordinated by ENISA. This collaboration further extends into emerging areas such as cybersecurity in maritime transport.
Beyond cybersecurity and advanced technologies, Greece and Cyprus are also implementing a broader digital transformation agenda focused on modernising public services and strengthening innovation ecosystems. Greece and Cyprus are advancing their strategic cooperation through the interconnection of their national digital wallet applications – Gov.gr Wallet and ‘Digital Citizen’ – and are the first two EU member states to achieve such digital integration. At the same time, both countries are actively engaged in European innovation initiatives such as the development of AI Factories, which aim to strengthen Europe’s capacity in large-scale AI computing, industrial innovation and secure data ecosystems. Bilateral cooperation also extends to additional key sectors, including space technologies.
In February this year, the Eratosthenes Centre of Excellence of the Cyprus University of Technology (CUT) and the Hellenic Association of Space Industry signed an MoU establishing a strategic framework for collaboration between the Cypriot and Greek space technology ecosystems. Collaboration in the field is ongoing as the National Observatory of Greece and other Greek and European stakeholders are founding and strategic partners of the centre.
The Great Sea Interconnector (GSI) aims to link Greece, Cyprus, Israel and beyond with the EU’s electricity grid. What are the broader strategic implications of this project for Europe’s energy architecture?
In recent years, the EU has become, acutely aware of the vulnerabilities associated with fragmented energy systems and external dependencies. The Great Sea Interconnector (GSI) is an important EU Project of Common Interest (PCI) funded by the Connecting Europe Facility Instrument with a budget of €657 million. It aims to enhance energy security and interconnectivity across the region, contribute to the diversification of energy routes and sources and enable electricity flows across borders, reducing the risk of supply disruptions. Cyprus has not yet been connected to the European electricity grid and so, by linking Cyprus to Greece and Israel and, through Greece, also to the wider European network, the GSI will eliminate this isolation and address the gap. We should not forget that the project also accelerates the green transition. The south-eastern Mediterranean region and, of course, Cyprus, has enormous potential for renewable energy generation, particularly solar and wind, which aligns with the EU climate objectives.
As a guarantor power and a key partner of Cyprus, how does Greece view the latest efforts to restart negotiations to reunite the country? Can improving relations between Greece and Turkey help bring about the rapprochement of the island’s communities and an eventual solution?
Improving relations between Greece and Turkey can only help in creating a conducive climate in Cyprus. Greece, in coordination with the Government of Cyprus, has always played a fully supportive and constructive role in supporting the UN Secretary General’s efforts on Cyprus. The objective is a mutually acceptable and viable negotiated settlement of the Cyprus issue on the basis of the relevant UN Security Council Resolutions and of the EU acquis. Greece will definitely continue to do all it can to support the Government of Cyprus in its peaceful endeavour to terminate the occupation and reunite the island in accordance with the long-established and agreed UN framework.
You recently began your ambassadorial tenure in Cyprus. How have you found life on the island so far?
Last September, when I presented my credentials to President Christodoulides, Cyprus was not new to me. I was first posted to Nicosia from 2003 until 2008. I later visited on several occasions, while serving in other diplomatic positions related to Cyprus and the Cyprus Issue. In fact, Cyprus has been part of my life for quite some time now! It is a place to which I am strongly and emotionally attached, as are most Greeks. And like everybody else, I enjoy all the many things this beautiful and historic island has to offer, including its food delicacies, its mountain spots and villages, the shady walks along the Pediaios river and cool, relaxing evenings of Nicosia. What still strikes me most, though, in all the many years that I have been coming to Cyprus, is the barbed wire dividing Nicosia and the ceasefire lines that cut across the island. Not for too much longer, I hope.
This interview first appeared in the May edition of GOLD magazine. Click here to view it.
