The Cyprus Chamber of Commerce and Industry (Keve) this week announced the creation of the Cyprus-Uzbekistan Business Association.

The chamber stated that the new association is part of its “continuous efforts to foster new opportunities for Cypriot businesses”.

Moreover, according to the announcement, this initiative is “designed to enhance and expand economic and trade relations between Cyprus and Uzbekistan, paving the way for dynamic partnerships”.

“The association’s primary mission is to foster and strengthen collaborations between businesses in Cyprus and Uzbekistan,” the chamber added.

Keve also said that it will “work to highlight the strengths of the Cypriot economy, emphasising the opportunities for investment and partnerships”.

“Cyprus, strategically located at the crossroads of Europe, the Middle East, and North Africa, serves as an ideal hub for companies aiming to penetrate high-growth markets,” the chamber said.

“Coupled with its world-class infrastructure and stable business environment, Cyprus offers Uzbek enterprises a gateway to diverse, emerging regions,” it added.

Speaking at the association’s inaugural assembly, Keve president Stavros Stavrou said that “the establishment of this Association marks a new chapter in the economic relations between Cyprus and Uzbekistan”.

“It will unlock valuable opportunities for collaboration in areas such as trade, investment, and technology,” Stavrou stated.

“Acting as a pivotal networking platform, the Association will foster innovation and cooperation, driving mutual economic growth,” the Keve president added.

Meanwhile, the newly appointed ambassador of Uzbekistan to Cyprus, Abat Fayzullaev, expressed his enthusiasm for this collaboration.

“Uzbekistan views this association as a significant milestone in strengthening bilateral ties with Cyprus,” he said.

“We are committed to exploring new avenues of cooperation and building a robust framework for economic and cultural exchange,” the ambassador added.

“This initiative will undoubtedly contribute to deeper partnerships and enhanced prosperity for both nations,” Fayzullaev concluded.