A proposed roadmap for UAE investments in Cyprus, focused on energy projects that could elevate the island into a regional energy hub with links to Europe, has emerged as a central outcome of intensifying bilateral contacts, according to government-linked information.

The proposal, described as a Comprehensive Strategic Energy Partnership, would function as a practical implementation plan for specific projects across renewable energy, energy storage, natural gas and supporting infrastructure. Cypriot government sources describe Emirati investment interest as “strong and high”, noting that sustained preparatory contacts preceded Sunday’s rare visit by UAE President Mohammed bin Zayed Al Nahyan—an event the Government Spokesperson Konstantinos Letymbiotis characterised as “historic”.

According to the same information, the LNG terminal was identified by the UAE as the most mature project, alongside interest linked to Cyprus’ Exclusive Economic Zone (EEZ). Discussions also covered AI-enabled data centres, port infrastructure—including Larnaca port and the commercial port at Vasiliko—as well as subsea data cables, electricity interconnections, renewables and storage projects, mixed-use developments and the Pentakomo technology park. UAE stakeholders are also expected to review the Invest Cyprus project bank.

On Saturday, UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi held meetings with Cypriot ministers and addressed a business forum in Nicosia, co-organised by the Presidency, CCCI and Invest Cyprus, with participation from Cypriot and Emirati businesses.

Al Zeyoudi said non-oil trade between the two countries reached $176 million in the first nine months of the year—almost 40% higher year-on-year and close to the full-year 2024 total—highlighting the rapid growth of economic ties.

A Memorandum of Understanding signed between CCCI, Invest Cyprus and the Federation of UAE Chambers of Commerce & Industry established the UAE–Cyprus Joint Business & Investment Council, designed as a permanent mechanism to promote investments, deepen business links and maintain structured dialogue.

Cyprus’ Energy, Commerce and Industry Minister Michalis Damianou described the agreement as “a major step forward”, saying it will support joint ventures, knowledge exchange and project implementation. He stressed that current trade and capital flows represent only a fraction of the potential for deeper cooperation.

Business leaders echoed this view. CCCI President Stavros Stavrou described Cyprus as a reliable and well-regulated European hub, while Invest Cyprus President Evgenios Evgeniou pointed to the country’s strong economic performance and fast-growing tech sector, which now contributes 14% of GDP, supported by a surge in foreign direct investment.

Government briefings indicate that the leaders’ talks covered bilateral relations, Cyprus’ EU Council Presidency, regional developments and the Cyprus problem. Cyprus is prioritising stronger EU–Gulf ties and has actively supported the UAE’s push for accelerated negotiations on a EU–UAE free trade agreement, following four negotiation rounds in under a year.

Regional discussions reportedly included Gaza and the Amaltheia humanitarian corridor, Syria, Lebanon and Ukraine, with Cypriot sources linking enhanced UAE confidence to Cyprus’ operational role in humanitarian assistance.

On the Cyprus issue, the UAE was said to reaffirm its traditional support for a solution based on UN resolutions.