Limassol, Cyprus. Deputy Minister to the President Irene Piki said this week that Cyprus and Italy can act as bridges of stability and economic interconnection between Europe, the Middle East and North Africa as the two countries seek to deepen cooperation in trade, energy, technology and regional connectivity.
Shared priorities
Speaking at the Italy-Cyprus Round Table with the business community at the Limassol Chamber of Commerce and Industry (Evel), Piki said the current geopolitical environment has given renewed importance to the role of Mediterranean EU member states. She said Cyprus and Italy share a clear understanding of the main challenges and opportunities shaping the future of Europe and the wider Mediterranean.
Joint action plan
Piki said the decision by the two countries’ leaders during President Nikos Christodoulides’ recent visit to Rome to prepare a joint Cyprus-Italy Action Plan is of particular importance.
As two European Union member states with a strong Mediterranean and outward-looking orientation, she said Cyprus and Italy share the need for a more competitive, more resilient and better connected Europe.
Trade ties
Referring to economic relations between the two countries, Piki said cooperation has gained strong momentum, with total bilateral trade in goods and services exceeding 1.5 billion euros in 2025. She said this reflects both the breadth and the potential of the economic relationship.
Italy is the second most important trading partner of Cyprus in terms of imports within the European Union, she said, adding that there is still significant scope for balancing the trade balance.
Energy cooperation
Piki said energy remains one of the most important areas of cooperation, with Italy acting as a strategic partner for Cyprus, mainly through the activities of ENI and, in particular, the ENI-Total consortium in Block 6 of the Cypriot Exclusive Economic Zone.
She said the latest developments regarding the Kronos gas field are especially important, recalling that last week the Council of Ministers approved the development and production plan for the field.
