Cyprus and Greece plan joint business initiatives for Arab and Balkan markets

Nicosia, Cyprus. Cyprus and Greece are preparing joint business initiatives aimed at expanding into Arab and Balkan markets following talks between Greek Deputy Foreign Minister Harry Theoharis and the Cyprus-Greece business association.

The discussions took place during Theoharis’ September 14-15 visit to Cyprus and focused on economic diplomacy, investment and opportunities in third markets.

Business expansion

According to the Cyprus-Greece business association, Theoharis said economic cooperation between the two countries had increased considerably in recent years, making it easier for Cypriot and Greek companies to establish a presence in each other’s markets.

The focus is now shifting beyond the two domestic markets. Cyprus is being considered as a possible route for Greek companies seeking to expand into Arab countries, while Greece could offer Cypriot businesses easier access to the Balkans.

Strategic cooperation

The approach follows discussions earlier in the week between Theoharis and Foreign Minister Constantinos Kombos, which focused on economic diplomacy, investment and the joint pursuit of opportunities in third markets.

The Greek foreign ministry said the visit’s discussions concerned the next steps in strategic cooperation, particularly exports to third countries, investment and energy.

Joint tourism proposal

During his meeting with the business association, its president Iosif Iosif proposed joint tourism packages for long-haul markets, including the United States, China and Japan.

Under the proposal, Cyprus and Greece would be promoted together rather than separately, allowing visitors from overseas markets to combine both destinations in one trip.

Cyprus and Greece have previously discussed joint travel packages for markets including the United States and China, including during bilateral tourism talks in 2025. Iosif has supported the concept for several years, arguing that combining the two destinations could make travel to the eastern Mediterranean more attractive to visitors from distant markets.