There are still major financial opportunities between Cyprus and Bahrain to unlock, President Christodoulides said, addressing an inaugural business forum in Manama this morning, in the framework of an official visit to the Arab Gulf oil state.
He noted that both countries have significant prospects based on their strategic location, their economic dynamic and their clear role as bridges between regions and markets.
The President further underscored that the Cyprus EU Presidency will be assigning particular importance to strengthening relations between Brussels and Gulf countries and expressed the conviction that Bahrain will become a substantial partner in forging and realising this vision and priority.
'I strongly believe that our Presidency, as well as Bahrain's Presidency of the EU-Gulf Cooperation Council in 2026 and the 2nd Summit scheduled by the Cyprus Presidency, are not only major landmarks, but also opportunities to deepen political dialogue, strengthen financial cooperation and turning joint interests into tangible results,' he added.
Cyprus provides Bahraini investors with a stable, credible and steadfast development platform, the President said, becoming the point of entry for Europe, offering complete access to a Single Market and the Eurozone, as well as being supported by a modern, transparent and business friendly regulatory framework.
He further referred to 'our competitive taxation system', buoyed by the implementation of the taxation reform, the continued digitisation of public services, targeted administration reforms and ongoing efforts to cut down on bureaucracy.
'I firmly believe that there is plenty of room to further deepen bilateral cooperation in fiduciary and monetary services, investments, technology and digital innovation, as well as construction, infrastructure and connectivity,'President Christodoulides added.
He also noted that Bahrain continues to serve as a strategic gate to Cypriot companies that want to extend their activities in the Gulf and the wider Middle East, underlining the mutually beneficial nature of the bilateral financial relationship.
The President indicated that the deepening of relations is marked by the official inauguration of the Republic of Cyprus Embassy in Bahrain, Cyprus being the fourth EU member state to open an Embassy in the country.
'Opening an embassy is a clear indication of how we approach the country', he stressed.
Cyprus aims at strategic, long term, trust based synergies, the President said, concluding that his presence confirms a conviction of more to come and more to unlock.
SOURCE-CNA