Bilateral trade between Cyprus and China reached $1.44 billion in 2025, recording an annual increase of 26%, according to data presented by China’s Ambassador to Cyprus, Yang Yundong, during the Cyprus–China Cooperation and Entrepreneurship Forum, held on Tuesday in Nicosia at the Cyprus Chamber of Commerce and Industry (CCCI).
The forum highlighted prospects for further development of the economic relations between the two countries, with emphasis on investments, shipping, tourism, new technologies, green energy, and cooperation between local authorities and businesses.
According to the Chinese Ambassador, China became Cyprus’s fourth-largest trading partner in 2025 and the third-largest country of origin for its imports. As he stated, Cypriot products, including halloumi, zivania, and juices, are gaining a presence in the Chinese market.
Yang noted that the two countries have significant scope for cooperation in shipping, tourism, green development, and the digital economy, while underlining the role Cyprus can play as a bridge between China and the European Union.
Referring to bilateral relations, he said that the forum forms part of the events marking the 55th anniversary of diplomatic relations between Cyprus and China, and pointed out that cooperation at the level of local authorities constitutes an important pillar of these relations.
He also recalled the establishment of the China–Cyprus Sister Cities Alliance in September 2023, noting that the initiative aims to develop substantive cooperation between cities and local communities.
At the same time, he referred to the prospects of the Chinese economy and the opportunities created for foreign businesses by the development of artificial intelligence, robotics, and other innovative sectors.
CCCI seeks stable business partnerships
The President of the CCCI, Stavros Stavrou, underlined the importance of turning bilateral relations into concrete business partnerships in a speech delivered on his behalf by the CCCI Director General, Philokypros Rousounides.
As he stated, Cyprus can serve as an entry point for Chinese businesses into the single European market, leveraging its geographical position at the crossroads of Europe, Asia, and Africa, its human capital, professional services, and legal and regulatory framework.
Conversely, he noted that China is an important market and an international centre of technology, innovation, manufacturing, and investment, offering opportunities for Cypriot businesses.
Stavrou placed particular emphasis on the participation of businesses, municipal authorities, and regional organisations in the forum, noting that cooperation at the local level can create direct trade opportunities.
He also referred to the planned signing of a cooperation agreement in the tourism sector between Cypriot Top Kinisis and Chinese Zhejiang Overseas (Ningbo) International Travel Service Co., Ltd., as an example of the opportunities created through such events.
He stressed that the real value of the forum will be judged by the partnerships that emerge after its conclusion, assuring that the CCCI will continue to support the connection between Cypriot and Chinese businesses.
Prountzos: Target of 80% energy autonomy for Nicosia
The Mayor of Nicosia, Charalambos Prountzos, presented specific opportunities for cooperation with Chinese cities and businesses, with emphasis on green energy, smart city infrastructure, and research.
Prountzos stated that Nicosia is promoting a project aimed at achieving 80% energy autonomy through renewable energy sources, which envisages the creation of an 11-megawatt photovoltaic installation with energy storage capabilities.
According to the Mayor, two relevant studies funded by the European Union have been completed, while the project is under way. As he said, this is an initiative in which partnerships could be developed with Chinese cities and businesses that possess expertise in renewable energy sources.
At the same time, he announced that an agreement is scheduled to be signed on Friday, under the auspices of the Ministry of Education in Beijing, with the aim of connecting academic and research centres in Nicosia with corresponding bodies in Chinese cities.
Presenting the capital’s comparative advantages, he referred to the presence of six universities, six centres of excellence, and approximately 50,000 students, as well as the potential to attract international businesses and specialised human capital.
He made special mention of Nicosia’s smart city infrastructure, including its own fibre-optic network, sensors, smart lighting, waste management systems, and the Novoville citizen communication platform.
As he noted, these infrastructures offer opportunities for further cooperation with Chinese companies for their upgrading and utilisation.
The Mayor also underlined that Nicosia has competitive costs for business establishment and housing, a strong university and research presence, and economic activity that does not depend on tourism seasonality.
Vyras: Municipal cooperation for smart and sustainable cities
The President of the Union of Cyprus Municipalities and Mayor of Larnaca, Andreas Vyras, referred to the importance of strengthening cooperation between the local authorities of Cyprus and China.
Vyras noted that China can be an important partner for Cyprus in technological development and modernisation, while Cyprus can offer access to the European market and the wider Middle East region.
He pointed out that, despite the differences in size between the two countries, local authorities face common challenges concerning the provision of quality services to citizens, the development of smart cities, waste management, urban planning, and sustainable urban development.
He recalled that in 2025, a 26-member delegation of Cypriot local government carried out an educational visit to China, within the framework of a programme on modern urban development and management.
As he stated, this experience gave participants the opportunity to learn about technological development and urban planning practices, as well as ways of combining economic progress with the preservation of historical heritage.
The President of the Union of Municipalities expressed the readiness of Cypriot local authorities to support new partnerships that will emerge from the forum, for the benefit of businesses and local communities.
Invest Cyprus: Technology contributes over €4 billion to the economy
The Director General of Invest Cyprus, Marios Tannousis, referred to Cyprus’s investment potential, presenting the course of the economy and the sectors attracting growing international interest.
As he stated, the information and communications technology sector is now a key driver of growth for the Cypriot economy, with an annual contribution exceeding €4 billion, corresponding to approximately 15% to 16% of GDP.
Tannousis noted that Cyprus is recording an increase in foreign direct investment from different geographical regions, while, according to the data he cited, it ranks among the top ten countries worldwide in terms of foreign direct investment per capita.
He pointed out that, beyond technology, shipping, education, financial services, and tourism are also showing positive trends. He made particular reference to the potential for Chinese businesses to use Cyprus as a regional base for operations in the European Union, the Middle East, and North Africa.
According to him, the country’s geographical position, combined with its European regulatory framework and legal system, creates the conditions for the development of investment and commercial activities.
He also referred to the prospects for cooperation in the financial technology sector, noting that Cyprus’s innovation ecosystem and supervisory mechanisms can support the development of new business activities.
More than 200 members in the Cyprus–China Business Association
For his part, the President of the Cyprus–China Business Association, Theodoros Parperis, underlined the potential for further expansion of the trade and investment relations between the two countries.
As he stated, Cyprus offers significant advantages for Chinese businesses wishing to expand into the European Union and the wider region, due to its geographical position, legal and tax environment, and the development of professional and digital services.
He noted that the Cyprus–China Business Association has more than 200 members and is active in developing business contacts through missions, conferences, and networking events in Cyprus and China. He also stated that the Association is preparing a new initiative in China, expressing the expectation that it will be implemented soon.
In conclusion, he underlined that strengthening bilateral cooperation requires the utilisation of existing opportunities and their transformation into tangible business results.
