The event featured panel discussions and keynote presentations from government and business leaders, focusing on investments, ICT, shipping, maritime services, and logistics and was concluded with a networking lunch.

Participants were informed of Cyprus’ competitive advantages as an international business center and investment destination, an international ship-management center, and an emerging technology hub.

The Cypriot delegation was composed of more than 25 companies, representing a wide array of economic sectors.

The Forum was attended by more than 150 business leaders and company representatives from Israel.

The event was jointly organized by the Cyprus Ministry of Energy, Commerce & Industry, the Cyprus Embassy Trade Center (CTC) in Tel Aviv, the Cyprus Chamber of Commerce & Industry, the Federation of Israeli Chambers of Commerce, and the Cyprus-Israel Business Association.

Cyprus-Israel Business Forum 2022 – Agenda

Featuring panel discussions and keynote presentations from government and business leaders, focusing on investment funds, shipping, maritime services & logistics and ICT.

The event will be followed by a networking lunch.

The Cypriot business delegation will be headed by the Minister of Energy, Commerce & Industry, H.E. Natasa Pilides.

RSVP here: https://t.co/fSKY518wqx

Since the first edition of the newsletter was published, the world has been shocked by yet another war, one that is radically shifting geopolitical order as we know it. Acts of military aggression against Ukraine’s sovereignty and territorial integrity, constitute a grave breach of the United Nations Charter and a blatant violation of fundamental principles of international law, peace, and security.

Diplomatic efforts undertaken by the international community to counter Russia’s aggression and to alleviate humanitarian impact on Ukraine, have a strong focus on the deployment of economic tools and means. This undoubtedly demonstrates the importance of economic and commercial diplomacy, regretfully under such dire conditions.

Forging and sustaining mutually beneficial economic ties with reliable partners, whilst committing to international law and global rules of trade must be safeguarded.

Moreover, the criticality of addressing food and energy security has become as evident as ever to nations worldwide.

Through the lens of Eastern Mediterranean & Middle East countries, the ever-growing bilateral and multilateral partnerships formed in the region, have already led to the establishment of several fora for dialogue and coordinated action.

The East Mediterranean Gas Forum (EMGF), the Cyprus Government Initiative for Coordinating Climate Change Actions in the Eastern Mediterranean and Middle East (EMME), the 3+1 cooperation mechanism (Cyprus, Greece, Israel & US), as well as other trilateral and multilateral formats allow for structured dialogue and joint actions to take place.

Furthermore, opportunities for expanding corridors of energy, telecommunications, transport, and trade are further strengthened by the normalization of relations stemming from the Abraham Accords.

The strong multifaceted ties between Cyprus and Israel, leveraged by regional partnerships with like-minded countries in the region, allow for swift and effective coordination on addressing common critical challenges.

Energy

• Advance the commercial exploitation of proven Levant basin natural gas reserves.
• Optimize and fast-track necessary infrastructure development, to provide for the energy needs of the region, the EU and other international demand. This includes gas transportation networks, electricity interconnections as well as renewable energy technologies for generation and storage.

Food

• Boost investment in the FoodTech sector, enable the commercialization of alternative protein and functional ingredients solutions
• Pool resources and build on respective strengths in areas such as aquaculture
• Establish effective foodwaste management systems
• Develop supply chain synergies in securing critical food commodities
• Adoption of AgriTech solutions to increase production yields and reduce land use and water consumption

Trade

• Further develop maritime and land transport networks to improve interconnectivity, reliability, and competitiveness of trade routes
• Introduce policies & implement measures to improve market access for products in scarcity, encourage specialization in specific categories of industrial raw materials and agricultural & processed food products and achieve productivity improvements

The Israel-Cyprus Chamber of Commerce is an important stakeholder in forming and developing commercial relations, improving investment flows, and most importantly promoting people to people contacts between Cyprus and Israel. Private sector engagement is essential for enabling actions in the areas discussed above (and more).

The Cyprus Trade Center in Tel Aviv welcomes recent activities to revitalize and strengthen the Chamber, including and not limited to; the reinforcement of its Board, the expansion of its members base (both in numbers and profile diversity), the initiative demonstrated in presenting recommendations and planning events, as well as the enhancement of its communications strategy.

We look forward to continuing and reinforcing our close collaboration in advancing economic ties, facilitating business, and promoting friendship between Cyprus and Israel.

Sincerely,

Sofronis Papageorgiou

Head – Cyprus Trade Center, Tel Aviv

Israel-Cyprus Chamber of Commerce Newsletter – April 2022

Deadline: Monday, 5 April 2021 19 April 2021 (closing time 16:30, Tel Aviv time)

Vacancy notice available for download below:

Opportunities in the areas of maritime transport, energy transition and commercialization prospects for tech research.

Check out the interview here: https://cyprus-mail.com/2020/09/30/cyprus-israel-uae-israel-bahrain-accords/

Between 14^th to 17^th September 2020, just a day before yet another lockdown, I had the pleasure of joining ‘Mission: Innovation’, a bootcamp tailored to the needs of Trade & Innovation Counsellors serving in EU Diplomatic Missions in Israel.

The bootcamp programme was jointly designed and delivered by the European Institute of Innovation & Technology (EIT) Hub in Israel and Innovation Without Borders (IWB), an organization serving as a platform for diplomatic staff leading innovation activities in Israel to network with local ecosystem stakeholders.

Considering that the Cyprus Trade Center (CTC) in Tel Aviv has been operating for 3 years already and that during this time has initiated, supported, and took part in several activities in the Research & Innovation domain, our team’s knowledge and understanding of the local ecosystem would be classified as fair.

Nevertheless, we abide by the motto ‘I know that I know nothing’ (ἓν οἶδα ὅτι οὐδὲν οἶδα). Thus, with an interest of enriching my knowledge, extending our office’s network and challenging my understanding of the opportunities and challenges in advancing cooperation between Cyprus and Israel, I joined a team of counterparts from 9 different EU diplomatic missions in this 4-day educational journey.

In summary, the bootcamp’s intense programme could be divided into 3 meta-categories.

1. Α plethora of back to back meetings with key ecosystem actors, covering the full stakeholder spectrum; academia, public sector, private sector as well as civil society.
2. A specialist workshop guiding participants to clearly lay out their innovation agenda objectives, formulate a concrete action plan and pinpoint deliverables and performance metrics.
3. Peer-to-peer learning, through daily interaction with counterparts sharing very similar job descriptions but practically delivering value for their respective business communities and countries in varied ways

Personal Key Getaways & Thoughts

• High-level objectives for EU innovation counsellors in Israel may look alike, but the actual opportunities and projects to be explored may vary significantly between countries when taking into account parameters such as -and not limited to- the specific country’s economic profile, its innovation strategy, availability of resources, national ecosystem size and maturity level, presence of MNCs, culture, intensity of collaboration between stakeholder groups etc.
• Projects & Activities Planning – Concerning delegation visits and other relevant events; sector-specific, more compact initiatives may deliver significantly greater value and tangible results compared to those of general -and often customary- nature.
• There is a very wide network of potential partners to team up with when executing projects and collaborators to consult when collecting information and when handling requests from organizations back home. There is a great deal of overlap, which can at times lead to unnecessary duplication of effort but may also bring about complementarity. It is important to be clear on requirements before approaching stakeholders, in order to (a) be efficient in identifying the most appropriate and relevant collaborator and (b) be effective in achieving targets.
• From an Innovation Counsellor’s perspective, defining Key Performance Indicators (KPIs) or performance metrics in general is a very challenging task. Quantifying targets is particularly complex as many elements in the equation are outside a Counsellor’s control.  Nevertheless, it is a valuable exercise worth pursuing while tweaking the outcome as you go (Plan-Do-Check-Act). This is not necessarily done as part of an appraisal process. Instead, it should serve as a compass for a given team to navigate accurately towards its objectives.
• COVID-19 era considerations – In the absence of physical meetings and events, the world resorted to the increased utilization of VC tools and the planning of webinars and digital conferences. It is a common observation that we have by now reached ‘Zoom-fatigue’. Thus, -to the extent possible- it is important to identify innovative, fresh ideas for webinars and digital events, to attract and engage audiences, and offer them value adding experiences.
• Continuously improving website and social media content, by keeping up to date with digital tools and communication trends is key to effective audience education and engagement.
• Boosting interest in available opportunities is equally important as bursting bubbles and misconceptions. E.g. Motivate EU companies searching for solutions and new technologies to look into the Israeli market, whilst at the same time informing that investment organizations in Israel are inward looking, meaning they predominantly and purposely invest in Israeli startups and are not -in principle- looking into investments in foreign startups.
• Stay knowledge-thirsty, ask questions, say ‘yes’ to networking opportunities, keep a positive attitude, embrace local culture and traits, be open and collaborative. Do not see hutzpah as an enemy, make sure you turn it into your friend.

Overall, the bootcamp experience was highly beneficial and I would heartily recommend it to fellow Counsellors who might consider signing up for it in the future. It was a great opportunity to take a step back, re-assess our operational environment also considering the extraordinary circumstances we are faced with due to the COVID-19 pandemic, re-evaluate our objectives and revise action plans.

Sofronis Papageorgiou

Head – Cyprus Embassy Trade Center (CTC) Tel Aviv

Check out the interview here: https://www.calcalistech.com/ctech/articles/0,7340,L-3847748,00.html

Key message: ‘The Cyprus Trade Center (CTC) in Tel Aviv encourages Cypriot businesses, especially those active in food & beverage to look into exporting goods to Israel’.

Check out the article here: https://www.financialmirror.com/2020/05/02/covid19-cyprus-shelves-kosher-export-plans/

The Case of Cyprus – Energy, Port Infrastructure, Maritime Transportation & Logistics

A US investment fund is currently assessing the prospect of strengthening its investment portfolio in the areas of energy (primarily oil & gas operations but also renewables), port infrastructure and shipping logistics in the Eastern Mediterranean region. The company has been considering Cyprus, both as a location for establishing its regional base as well as a promising investment destination. Political instability, coupled with uncertainty and heavy pessimism on the viability of the development of energy projects in the region, as well as the Cypriot economic crisis of 2012-13, are considerations that the Board of Directors is currently evaluating.

On 15 January 2020, the Wall Street Journal published an article titled ‘Israeli-U.S. Consortium Begins Pumping Natural Gas to Egypt’[i]. The commencement of natural gas exports from Israel to Egypt-formally announced on 15 January 2020- was praised by the Israeli government and media, as a historic milestone for Israel-Egypt relations, second in scope and magnitude to the Peace Treaty of 1979.

The commercial agreement was concluded back in February 2018, between the consortia licensed to develop the Israeli natural gas reservoirs Tamar and Leviathan, and Dolphinus Holdings Ltd. a private natural gas trading company in Egypt. Since then, an extension to the original contract scope (i.e. additional quantities to be exported) was agreed, a prompt solution to the necessary transportation infrastructure was identified and put forward (i.e. reinstate and use in reverse flow mode the EMG pipeline connecting Ashkelon and Arish) and regulatory licenses were granted. [ii] [iii]

Politically speaking, the post-WWII period for the Eastern Mediterranean region was and remains one of withstanding but also newly sparked crises and conflicts, be it intra-national or international. Indicatively mentioning; Israeli-Palestinian conflict, the Arab Spring, the Syrian War, Turkey’s foreign policy shift towards Neo-Ottomanism etc. From an investor’s standpoint, the ever-changing political conditions compose an environment characterized by high volatility, unpredictability and ultimately high-risk.

Nevertheless, within the last decade, we have observed that whilst political -and in certain cases military- conflict is on-going, certain sectors are identified for which countries may put their overall differences aside and focus on as part of a positive agenda delivering benefits to all parties involved. Prominent examples include security of energy supply and responding to climate change[iv].

As of 2014, a joint initiative for encouraging regional dialogue and cooperation was rolled out by the Republic of Cyprus and the Hellenic Republic.  This resulted to the establishment of an array of Trilateral format dialogue platforms with like-minded neighbours including Egypt, Israel, Jordan, Lebanon and the Palestinian Authority. In the case of Israel, the Trilateral cooperation has matured significantly, igniting an increased interest by the US to participate and to jointly coordinate activities in areas of mutual interest. This led to an extended 3+1 format marked by the participation of Secretary of State Pompeo to the Israel-Cyprus-Greece Trilateral Summit held in Jerusalem (March 2019)[v]. This signified a shift in US policy, aiming for a stronger focus and involvement in the Eastern Mediterranean region, supporting initiatives that promote peace, economic and social prosperity.

Specifically, in the area of energy and the development of regional natural gas resources, on 16 January 2020 we have witnessed the establishment of the East Med Gas Forum (EMGF) for which the foundation charter was signed by the Ministers of Energy of Egypt, Cyprus, Greece, Israel, Italy, Jordan and the Palestinian Authority.[vi] At the same time, France formally requested to join the EMGF as a permanent member, whilst the US has requested to gain permanent observer status.[vii] Among others, the objectives of the Forum include the attraction of Foreign Direct Investment (FDI), cost optimization for infrastructure works as well as the joint identification and development of gas export corridors to gain access to markets.

Recent events; the establishment of the EMGF, gas exports commencing from Israel to Egypt and Jordan respectively[viii], gas reserves discovered in the Exclusive Economic Zone (EEZ) of Cyprus[ix], the signing of an intergovernmental agreement (IGA) for the construction of a subsea pipeline between Cyprus and Egypt[x], additional licenses granted and planned/on-going exploratory activities in the EEZs of Cyprus, Greece, Israel, Lebanon and Egypt[xi], as well as the recent signing of an IGA between Cyprus-Israel-Greece on laying the EastMed pipeline[xii] compose an environment of mutual understanding and respect in what concerns natural resources exploitation and economic development for the region, which serves as conducive for attracting and boosting foreign investment.

Additional considerations relevant to Cyprus’ investment outlook for the energy, maritime transport and logistics sectors may be considered. The government, amongst other initiatives:

1. has awarded a €290 million contract for the construction of an LNG import terminal (13 December 2019)[xiii]
2. is expected to award a €1.2 billion contract for the privatization of the Larnaca Port, entailing infrastructure expansion and operations growth[xiv], whilst a similar endeavour has taken place for the Limassol Port in 2017[xv]
3. is developing an industrial port and an energy service centre (expected to be operational in 2023)[xvi]
4. is championing -via a Cypriot private project promoter- the EuroAsia and EuroAfrica Interconnector projects[xvii]
5. is supporting investments in Renewable Energy Sources (RES) following the Cyprus Renewable Energy Roadmap 2030, striving for a 25-40% of electricity needs generated via RES[xviii].

Logistics and administrative support, as well as maintenance activities for international oil & gas companies operating in the region are performed by companies established in Cyprus. Requirements for increased capacity are present, thus, if infrastructure development proceeds at a fast pace, oil and gas operations as well as the maritime transport & logistics sector are bound to grow, provided that growth is coupled with relevant controls on ensuring suitability and availability of workforce.

Following the economic crisis of 2012-13, Cyprus had entered a 3-year Economic Adjustment Programme, resulting in the restructuring and downsizing of the banking sector, the strengthening of its anti-money laundering framework, as well as the reduction of government deficit and the implementation of structural reforms enabling competitiveness and sustainable growth[xix]. 

Reaching an impressive 4.1% in 2018, the real GDP growth rate is forecasted to steadily decline, reaching a 2.3% by 2021. This is mainly attributed to external factors, whilst domestic demand appears to remain concrete. Fiscal performance is expected to stay strong, considering an improving labour market and comparatively stable GDP growth. The debt-to-GDP ratio is also anticipated to drop from (est.) 93.8% in 2019 to 81.8% in 2021. Unemployment is expected to drop to 5.7% by 2021, whilst inflation remains relatively low (0.6% in 2019). Consumption, both private and public has increased and is expected to remain strong. [xx]

Considering the Global Competitiveness Index (2019), Cyprus is ranked at 44 out of 141 economies[xxi], whilst it is ranked at 54 out of 190 countries in the Ease of Doing Business (2020)[xxii], outperforming other southern EU countries such as Malta, Italy and Greece. Trade, considering both exports and imports, is experiencing a new growth path as of 2015[xxiii].

In addition to the increasing opportunities for investments in energy, maritime transport and logistics; it is also worth considering the ease of establishing operations in Cyprus as well as the growing investment funds management sector, which saw assets under management more than tripling between 2012 to H1 2019, reaching €6.8 billion[xxiv].

• Increased US-interest in the EastMed region and Cyprus in specific; see in addition, EastMed Act[xxv], increased US interest and engagement in supporting reforms enhancing the transparency and stability of the Cypriot financial regime, the on-going dialogue on updating the US-Cyprus Avoidance of Double Tax Treaty and the introduction of a Visa Waiver[xxvi]
• Positive macro-economic indicators for the post-crisis Cypriot economy, relevant stability assured by its EU/Eurozone membership
• Infrastructure development projects implemented in the areas of energy, shipping and logistics as elaborated above, coupled with investment incentives
• Increased stability in the specific areas of economic cooperation, supported by multilateral agreements of neighbouring countries, backed by the US, as well as the EU.

Based on the above, it is recommended to establish presence in the region, via the establishment of a regional office in Cyprus (prompt and low-cost procedure). This will allow for the development of a stakeholders network, locally and regionally, whilst at the same allowing time for monitoring and further assessing the stability and maturity of certain initiatives; enduring Israeli gas exports to Egypt and Jordan, Cyprus’ progress on infrastructure development, gas exploration activities continuing without major impediments and Cyprus maintaining and strengthening leadership as an international global shipping operations centre (EU’s largest ship-management centre, 11^th largest merchant fleet worldwide[xxvii]).

Sofronis Papageorgiou

Head – Cyprus Embassy Trade Center (CTC) Tel Aviv

References

[i] https://www.wsj.com/articles/israeli-u-s-consortium-begins-pumping-natural-gas-to-egypt-11579097813

[ii] https://www.delekdrilling.com/sites/default/files/wysiwyg_uploads/Israeli-Leviathan-to-start-exporting-gas-to-Egypy.pdf

[iii] https://en.globes.co.il/en/article-israel-to-begin-gas-exports-to-egypt-next-month-1001311161

[iv] https://futureearth.org/2019/07/04/cyprus-leading-climate-change-actions-in-the-eastern-mediterranean-and-the-middle-east/

[v] https://mfa.gov.il/MFA/PressRoom/2019/Pages/PM-Netanyahu-holds-joint-meeting-20-March-2019.aspx

[vi] https://www.neweurope.eu/article/east-med-gas-forum-makes-cairo-hq/

[vii] https://www.middleeastmonitor.com/20200117-france-and-us-request-to-join-east-mediterranean-gas-forum/

[viii] https://www.reuters.com/article/jordan-israel-gas/jordan-gets-first-natural-gas-supplies-from-israel-idUSL8N2960Q9

[ix] https://www.cnbc.com/2019/02/28/exxonmobil-makes-big-natural-gas-discovery-off-the-coast-of-cyprus.html

[x] https://in-cyprus.com/cna-cyprus-and-egypt-sign-iga-on-natural-gas-subsea-pipeline-video/

[xi] https://www.cnbc.com/2019/03/13/gas-finds-in-the-mediterranean-spark-partnership-between-rival-nations.html

[xii] https://www.euronews.com/2020/01/02/israel-greece-and-cyprus-sign-deal-for-eastmed-gas-pipeline

[xiii] https://www.financialmirror.com/2019/12/13/cyprus-signs-landmark-deal-to-build-e290-mln-lng-terminal/

[xiv] https://www.financialmirror.com/2020/02/16/huge-e1-2-bln-development-for-larnaca/

[xv] https://worldmaritimenews.com/archives/189905/dp-world-po-maritime-ink-deals-to-operate-limassol-port/

[xvi] https://www.cyprusprofile.com/en/sectors/energy-and-environment/

[xvii] https://www.quantum-corporation.com/about/the-quantum-corporation-group,3

[xviii] https://www.southeusummit.com/europe/cyprus/innovation-to-the-fore-as-cyprus-bids-to-break-energy-dependency/

[xix] https://www.financialmirror.com/2016/04/05/cyprus-exit-from-bailout-to-repay-esm-in-2025-2031/

[xx] https://ec.europa.eu/economy_finance/forecasts/2019/autumn/ecfin_forecast_autumn_2019_cy_en.pdf

[xxi] http://www3.weforum.org/docs/WEF_TheGlobalCompetitivenessReport2019.pdf

[xxii] https://www.doingbusiness.org/en/rankings

[xxiii] https://oec.world/en/profile/country/cyp/#Trade_Balance

[xxiv] http://www.cifacyprus.org/assets/files/library/ar_cifa2019.pdf

[xxv] http://www.ekathimerini.com/247923/article/ekathimerini/news/american-chambers-of-greece-cyprus-israel-hail-trumps-signing-of-eastmed-act

[xxvi] https://www.financialmirror.com/2019/12/23/cyprus-heralds-the-lifting-of-us-arms-embargo/

[xxvii] https://www.cyprusprofile.com/en/sectors/maritime-and-shipping/

Having brokered the agreement between the two Associations, the Head of CTC Tel Aviv, Sofronis Papageorgiou, hosted a business dinner for Palestinian business leaders in Ramallah, marking the attainment of this significant milestone, resulting from our on-going efforts to advance and promote economic relations between the Cypriot and the Palestinian business communities.

Attendees included the Chairman and the General Manager of the Palestinian Federation of Business Associations, as well as distinguished representatives of investment/financial institutions (Palestinian Investment Fund, Arab Islamic Bank), business associations (Palestinian Information Technology Association of Companies, Jenin Businessmen Forum) as well as the corporate arena, spanning a variety of sectors; investments, renewable energy, iron & steel, ICT, health, food & beverage and trading.

During the event, the guests were briefed on the economic and investment landscape in Cyprus and had the opportunity to share views on future actions stemming from the establishment of the Joint Business Council, to pinpoint specific commercial opportunities, as well as to address challenges in assuring the effectiveness and ease of doing business on either side.

Deadline: Sunday, 10 November 2019 (closing time 23:59, Tel Aviv time)

Vacancy notice available for download below:

On 10 October, the delegates met with the Deputy Secretary General of the Cyprus Chamber of Commerce & Industry (CCCI), Mr. Leonidas Paschalides, with whom they had the opportunity to exchange views on economic sectors of mutual interest and to discuss commercial prospects in the Cypriot market. The two organisations also assessed specific actions for strengthening bilateral economic cooperation.

Subsequently, as facilitated by the Department of Services & Trade of CCCI, the delegates followed an intense programme of B2B meetings with the participation of 15 Cypriot companies. The participants represented a variety of sectors and interests, including and not limited to; construction, renewable energy, engineering advisory and architectural services, ICT and outsourcing services, industrial equipment trading, FMCG trading, financial and legal services, media as well as investments in the areas of hospitality and real estate.

In the evening, the delegates were welcomed to a business dinner, hosted by the Head of CTC Tel Aviv, Mr. Sofronis Papageorgiou, in the presence of the Palestinian Ambassador to Cyprus, H.E. Mr. Jubran Taweel and high-ranked officials from the Cyprus Ministry of Foreign Affairs, the Ministry of Energy, Commerce & Industry and CCCI.

On 11 October, the delegates joined a breakfast meeting with the Permanent Secretary of the Ministry of Energy, Commerce & Industry, Dr. Stelios Himonas.

During the meeting, a constructive exchange of views was held with an aim to identify priority areas on which joint initiatives may be planned and rolled out, ultimately delivering mutual economic benefit to our respective business communities. Moreover, the Permanent Secretary elaborated on the government’s policies in what concerns supporting and encouraging international companies and investors to establish presence and operations in Cyprus and briefed on the role of the Ministry of Energy, Commerce & Industry in promoting and facilitating such commercial endeavours.

In close cooperation with the Cyprus Chamber of Commerce & Industry (CCCI), a schedule of B2B meetings with Cypriot businesses will be organized for the delegates, in their domains of interest. The delegates represent a variety of sectors and interests, including and not limited to; construction, renewable energy, engineering advisory and architectural services, ICT and outsourcing services, water treatment systems, industrial equipment, FMCG, media as well as investments in the areas of real estate and tourism.

Under the lead of the respective Presidents, CCCI and PFBA will also be engaged in a constructive dialogue to review current commercial activities between the business communities they represent and to identify high priority economic sectors for which specific joint actions may deliver mutual economic benefits.  

For more information and expression of interest for B2B meetings, Cypriot businesses may contact the Cyprus Chamber of Commerce & Industry directly.

Moreover, the region’s thriving research and innovation scene, with a plethora of academic/research institutions and innovation centres provides a great platform for promoting cooperation initiatives in the domain.

A first step in reaching out to the regional community was taken on 24 September 2019. In collaboration with the Haifa Municipality a working visit of the Ambassador of Cyprus to Israel, H.E. Thessalia Salina Shambos and the Head of the CTC Tel Aviv, Mr. Sofronis Papageorgiou was organized.

Site-visits and targeted meetings were held with:

• The Haifa Economic Corporation, which is the city’s development arm, holding responsibility for a wide array of major economic projects, delivering commercial, social and environmental benefits to its people
• The Haifa Port, serving as a regional partner to Cypriot ports and maritime businesses, for both commercial and leisure activities
• The Chamber of Commerce & Industry of Haifa and the North, leading economic development in northern Israel and facilitating business opportunities for an impressive range of industrial and commercial member-organisations
• The Haifa Municipality, leading local policymaking and rolling out collective initiatives for the benefit of its citizens, including -and not limited to- economic development.

Following the meetings, the CTC Tel Aviv hosted a business lunch with leaders from local authorities and the business community leading to a constructive exchange of views on ways of advancing multi-sectoral cooperation between our respective countries.

We had the pleasure of hosting the Deputy Mayor, the President of the Chamber of Commerce & Industry of Haifa and the North, the President of the Chamber of Shipping of Israel, the Director of the Administration of Shipping & Ports (Transport Ministry), Directors of various public and private entities, such as the Haifa Port, the Haifa Economic Corporation, The Golda Meir Mount Carmel International Training Center (MCTC), MATI Haifa and representatives from VC firms.

Focus areas included maritime, trade and research and innovation. Without losing sight of strategic endeavours, several short-term and mid-term actions were identified.

We look forward to work hand-in-hand with the aforementioned stakeholders, as well as others, to deliver mutual economic benefit to our respective countries.

The Cyprus Delegation for 2019 was composed by representatives from the Economic Diplomacy Department of the Cyprus Ministry of Foreign Affairs, the IDEA Accelerator/Incubator, the ARIS Accelerator, the Cyprus Telecommunications Authority (CYTA), the Research and Innovation Foundation and a high number of inspirational young entrepreneurs, (co-)founders of startups. Participating startups: Able Book, ACF Atokes, Activitygogo, BLCP, ForPeople, Fundscribe, Meera, M&I Join my Wifi, Shelvino, Slim Payments, Stampi.

DLD Tel Aviv Innovation Festival is an international event, promoting innovation in the region and beyond. It aims to boost international cooperation, facilitate collaborations and partnerships, connect young talent to multinational corporations and provide opportunities for young entrepreneurs to learn, to expand their horizons, to network and to develop new ideas.

During the days of the Festival, the city of Tel Aviv is filled with satellite events, promoting Israeli innovation in culture, music, food and arts.

2019 was another busy and successful year for DLD, hosting an impressive number of over 28,000 Festival participants, including 9,020 Conference participants (50% from abroad) whilst hosting more than 100 corporate events (by tech giants and others) and giving the opportunity to more than 150 startups to showcase their work and to several national delegations to be hosted and to present at the National Pavilion.

Why is Cyprus an Attractive Solution for Funds and Fund Management Companies in Europe?

Join us on 6 May 2019 at Intercontinental David Tel Aviv and find out!

Meet and network with key stakeholders from Cyprus, and Israel based law firms, accounting firms, fund managers/administrators, asset managers, tax specialists, corporate service providers, banks and other financial institutions, private equity firms, family offices and institutional investors. The Summit will analyse the outlook for the Cyprus Economy, how to conduct business in Cyprus with regards to regional and international headquartering, as well as the local funds industry.

Organised by:

Invest Cyprus – Cyprus Investment Promotion Agency
Cyprus Investment Funds Association – CIFA

For registration and more information, visit:

www.cyprusfundsroadshow.com

This event, unique in its kind, constitutes the first joint action and major deliverable, stemming from the provisions of the Trilateral MoU signed by the Presidents of the Federation of Israeli Chambers of Commerce, the Union of Hellenic Chambers of Commerce & Industry and the Cyprus Chamber of Commerce and Industry in Nicosia, on 8 May 2018.

Looking forward to welcome the Cypriot delegates, to meet with collaborators and guests from all three countries (and beyond) and to promote the advancement of economic cooperation, to the benefit of our business communities and of our citizens.

Attendees included representatives from the Israeli Ministry of Foreign Affairs, the Federation of Israeli Chambers of Commerce, the Israel Export and International Cooperation Institute, the Manufacturers’ Association of Israel, the Israel Innovation Authority, the EU Delegation in Israel, the Israel-Cyprus Chamber of Commerce, the Cyprus-Israel Business Association, JETRO Israel and the Embassies of Egypt, Argentina and Ecuador in Israel.

The event provided an excellent opportunity to reflect on this year’s achievements and to exchange views with our trusted partners on advancing economic ties between Cyprus and Israel, but also on promoting regional and international cooperation in the areas of trade, innovation, energy and investments.

We would like to express our most sincere gratitude to all of the attendees for their valuable contribution, input and support.

Adam is the wine writer for The Jerusalem Post and has been writing his Wine Talk column since 2010.

A great thank you goes out to Evoinos for organizing and leading the visit, but also for its excellent work in promoting Cypriot wine internationally.

As an outcome of the visit, Cypriot viniculture and wines are featured in a series of articles in Adam’s column.

Wine Talk: The Essence of the Eastern Mediterranean (published: 3 October 2018)

Wine Talk: Message in a Bottle (published: 29 November 2018)

This comes as a great follow-up to the commencement of Cypriot wine exports to Israel in 2018.

The respective Chambers have agreed to join efforts in boosting cooperation and in providing access to commercial opportunities in the areas of energy, trade, investments, research and innovation.

This is a very important development, stemming from the initiative and a related proposal of the Cyprus Trade Center (CTC) Tel Aviv. We would like to express our gratitude to all Parties involved, for heartily embracing the concept of forming a trilateral framework of cooperation between the 3 Chambers, and jointly -and in a timely manner- laying a solid foundation for future cooperation.