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Gulf Press > Uncategorized > Qatar and Cyprus: Entering a New Era of Mutual Cooperation and Economic Growth
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Qatar and Cyprus: Entering a New Era of Mutual Cooperation and Economic Growth

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Last updated: 2024/05/26 at 6:24 PM
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The recent visit of the Amir HH Sheikh Tamim bin Hamad Al Thani to Cyprus has opened up new possibilities for enhanced economic cooperation between the two countries. This visit marks a significant step towards strengthening the already solid bilateral relations between Qatar and Cyprus and furthering their common goals and interests. The relationship between Doha and Nicosia dates back to 2001 and has continued to evolve over the years, leading to the opening of embassies in both capitals in 2004 and 2007, respectively.

The bilateral relations between the two countries have seen notable development over the years, with mutual visits by leadership at various levels. The visit of the Father Amir HH Sheikh Hamad bin Khalifa Al-Thani to Cyprus in 2010 and the visits of former President of the Republic of Cyprus, HE Dimitris Christofias, and HE Nicos Anastasiades to Doha, have all played a role in strengthening and expanding the relations between Qatar and Cyprus. These visits have also resulted in the signing of important agreements between the two countries.

One of the key areas of cooperation between Qatar and Cyprus is in the construction sector, with Cypriot companies actively involved in major infrastructure projects in Qatar. The construction of the Education City Stadium, one of the stadiums for the FIFA World Cup Qatar 2022, is a notable project undertaken by Cypriot companies in Qatar. Additionally, Qatar Airways operates passenger flights from Larnaca International Airport, further enhancing the connectivity between the two countries.

In December 2021, a consortium comprising QatarEnergy and ExxonMobil signed a contract with the government of Cyprus for exploration and production sharing in block five, southeast of the island. This marks QatarEnergy’s second exploration block in Cyprus, following the successful ‘Glaucus’ gas discovery in Block 10 in 2019. QatarEnergy will hold a 40 percent working interest in block five, with ExxonMobil operating the block with a 60 percent working interest.

Aside from economic cooperation, Qatar and Cyprus also engage in cultural and educational exchanges. Efforts are underway to achieve full recognition between universities and institutes in both countries. Intellectuals from both sides participate in seminars and exhibitions, while conferences are held in Doha and Nicosia to promote collaboration in various fields. Additionally, the two countries have cooperation agreements covering political, economic, commercial, technical, educational, legal, health, and tourism sectors.

The government of Qatar and Cyprus recently signed a memorandum of understanding in the fields of higher education and scientific research, highlighting their commitment to strengthening educational and scientific cooperation. Cyprus, as a high-income country in the eastern Mediterranean basin, offers promising opportunities for growth in sectors such as tourism, oil and gas, maritime transport, education, health, research, and renewable energy. With their shared interests and mutual goals, Qatar and Cyprus are poised to further enhance their cooperation and partnership relations in the years to come.

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News Room May 26, 2024
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