Cyprus has become a key investment destination for Estonia, and numerous opportunities for collaboration exist between Estonian and Cypriot companies. This was the central theme of President Alar Karis of Estonia's address at a business forum in Nicosia. Organized by the Cyprus Chamber of Commerce and Industry (CCCI), the forum was titled "Cyprus-Estonia: Promoting Bilateral Cooperation."

The forum's primary goal was to enhance bilateral relations and cultivate cooperation between Cypriot and Estonian companies, particularly in Shipping, Cybersecurity, and Information Technology.

President Karis emphasized the numerous benefits for Estonian businesses operating in Cyprus, highlighting the island's strategic location and a business-friendly environment shaped by common law. "Cyprus is a significant destination for Estonia's foreign direct investments, with our investments here surpassing those in the UK last year," he stated.

He noted the similarities between the two countries, both being maritime nations with a commitment to digitalization that boosts productivity. Estonia, known for its advanced digitalization, has transformed the majority of its public services into digital platforms. President Karis proudly mentioned that Estonian companies are not only exporting this expertise but are also keen to share their experience with Cypriot businesses.

President Karis encouraged Cypriot companies interested in northern Europe to consider Estonia for business opportunities.

Deputy Minister of Shipping Marina Hadjimanoli discussed the growth prospects of the maritime sector in Cyprus during her speech at the forum.

The event also featured insights into Cyprus's digital ecosystem from the Deputy Minister of Research, Innovation and Digital Policy, Nicodemos Damianou, and the Chief Scientist for Research, Innovation, and Technology, Demetris Skourides. They spotlighted Cyprus' potential as a burgeoning hub in research, technology, and innovation.

Stavros Stavrou, President of CCCI, in his welcome address, underscored the strategic partnership between Cyprus and Estonia as EU members. He emphasized the importance of synergies in fostering long-term business collaborations in various sectors.

Representatives from Estonia, Riina Palu and Merit Kindsigo, presented on the activities of the Estonian Maritime Cluster and potential areas for cooperation.

The forum concluded with presentations from 11 companies accompanying the Estonian President, showcasing their products and services.

According to a CCCI press release, the forum facilitated private meetings between Cypriot and Estonian companies from maritime, cybersecurity, and IT sectors, furthering the agenda of bilateral cooperation.

The Business Forum saw participation from a diverse group of attendees, including members of the business and scientific communities and public sector representatives.