FAMAGUSTA GAZETTE – Cyprus Minister of Energy, Commerce and Industry George Papanastasiou addressed the Cyprus-Israel Business Association’s recent lunch, emphasizing the strong partnership between Cyprus and Israel in trade, energy, and innovation.
He noted Israel’s key role in Cyprus’ economy, with investments in sectors such as ICT, energy, and tourism, and highlighted €94 million in Cypriot exports to Israel in 2024—a 53% increase from 2023.
Papanastasiou praised joint efforts in energy projects, including collaborations on the Aphrodite gas field and electricity interconnections with the EU.
He also stressed the potential for further cooperation in digital transformation and innovation, citing Israel’s achievements in cybersecurity, AI, and life sciences.
The minister urged continued dialogue to foster regional stability and strengthen ties between the two nations.