Deputy Minister of Research, Innovation and Digital Policy, Dr Nicodemos Damianou discussed ways to strengthen economic and business ties between Cyprus and India, as well as the prospects for deepening bilateral cooperation in the field of digital transformation, and particularly in artificial intelligence and cybersecurity, with the Minister of State for Electronics and Technology, Commerce and Industry of India, Jidin Prasada.

According to a press release, Damianou paid an official visit to India 5-6 September and led a delegation that participated in the business forum "CII India Mediterranean Business Conclave", organised by the Ministry of Foreign Affairs of India and the Confederation of Indian Industry (CII), on 6 September 2024, in New Delhi, with the participation of representatives from 28 countries, aimed at strengthening regional cooperation and expanding investment and business activities between India and the Mediterranean countries.

During the forum, the Deputy Minister participated in a Ministerial Session on Trade, Economic Cooperation and Investment, along with India's Minister of Commerce and Industry, Piyush Goyal, while he also delivered a speech at the closing ceremony of the conference on "India-Middle East: shaping cooperation for the future", which was addressed by India's Foreign Affairs Minister, Dr. Subrahmanyam Jaishankar.

In his speech, the Deputy Minister said that Cyprus and India maintain excellent relations and historical ties of friendship, with economic and business cooperation remaining the cornerstone of this strong relationship.

"With our presence at such events promoting not only bilateral but also regional cooperation, we are laying the foundations for further promotion of Cyprus' role as a pillar of stability and development in the region, while highlighting the dynamics of our country as a technological and business hub", he said.

The Deputy Minister added that Cyprus "has unique competitive advantages, such as its geostrategic position, its human resources and a friendly business environment, which we must exploit further in order to achieve the goals we have set as a Government under Vision 2035, namely to make our country one of the best places in the world to live, work and do business."

The advantages of Cyprus as an investment and business destination, as well as opportunities for cooperation and investment in sectors such as technology and innovation, shipping and investment funds, were also presented in a "Cyprus Country Roundtable", where, in addition to the Deputy Minister, the High Commissioner of Cyprus to India, Invest Cyprus, the Research and Innovation Foundation, as well as Eurobank and PwC Cyprus participated.

The Deputy Minister, accompanied by the Chief Scientist for Research, Innovation and Technology, Demetris Skourides, participated in a separate event organised by Invest Cyprus, in the presence of technology companies from India interested in operating in Cyprus, aiming to promote Cyprus as an emerging hub of technology and innovation, as well as a reliable gateway for investments to and from Europe.