QC Chairman to QNA: HH the Amir's Visit to Cyprus Opens New Horizons for Economic Development

Chairman of Qatar Chamber Sheikh Khalifa bin Jassim al-Thani stated that the visit of His Highness the Amir Sheikh Tamim bin Hamad al-Thani to the Republic of Cyprus is expected to open broad horizons for the development of co-operation between the two countries in various fields, which will positively impact trade, investment exchange, and cooperation between the business sectors in both countries, especially given the distinguished relations that connect the two countries at all levels.

In a statement to Qatar News Agency (QNA), he said that the State of Qatar and the Republic of Cyprus are linked by strong and advanced co-operation relations, noting that relations between the two countries are witnessing rapid development in all fields, with reciprocal visits at the level of leaders, officials, and trade delegations, in addition to numerous co-operation agreements and memoranda of understanding signed in various sectors.

Sheikh Khalifa said that Cyprus is a promising investment destination due to the significant investment opportunities available there, pointing out that the Qatar Chamber encourages Qatari businessmen to explore the available investment opportunities and enhance cooperation between the Qatari private sector and its Cypriot counterpart.

He also expressed his confidence that the visit of His Highness the Amir to Cyprus will stimulate business sectors in both countries to increase co-operation and enhance joint and mutual projects, thereby contributing to increasing the volume of trade between the two friendly countries, which is still below aspirations despite the available potentials.

Several promising economic sectors could serve as a future platform for co-operation between the private sectors in both countries, especially in tourism and services, as around three-quarters of Cypriots work in the services sector, while the agricultural sector employs 5% of the workforce. There are promising opportunities for growth in many other sectors on the island, including oil and gas, maritime transport, tourism, wide-ranging development projects, education, health, research, and renewable energy. The government aims to maintain Cyprus's reputation as a reliable financial centre and an attractive investment destination. (