India and the Republic of Cyprus (RoC) have continued to deepen their bilateral engagement with steady progress in defence and economic cooperation in recent years. Building on shared strategic interests, the two countries have laid down frameworks to expand collaboration in key sectors, while also reaffirming their commitment to a rules-based international order.
In the area of defence, the signing of a Memorandum of Understanding (MoU) on Defence Cooperation on December 29, 2022, during External Affairs Minister S. Jaishankar’s visit to Cyprus, marked a significant development. The agreement has since been followed by the signing of a Bilateral Defence Cooperation Programme (BDCP) for 2025, which took place in Nicosia on January 23, 2025. The programme aims to enhance structured cooperation in defence and military exchanges.
In a reflection of this growing engagement, a Cypriot defence delegation led by Anna Aristotelous, Permanent Secretary of the Defence Ministry of RoC, participated in Aero India 2025 held in Bengaluru from February 10–14. On the sidelines of the event, Aristotelous held discussions with Minister of State for Defence, Sanjay Seth, to explore ways to further deepen defence ties.
Defence diplomacy between the two nations is also supported by India’s concurrent accreditation of its Defence Attaché to the Republic of Cyprus, based at the Embassy of India in Cairo.
On the economic front, bilateral trade has shown resilience despite global challenges. According to the Ministry of External Affairs (MEA), trade between India and Cyprus in 2023–24 stood at USD 137 million. Key Indian exports to Cyprus include pharmaceuticals, textiles, ceramic products, iron and steel, machinery, and chemicals. Meanwhile, Cyprus exports pharmaceuticals, beverages, and various manufactured goods to India.
While trade volumes were impacted by the disruptions caused by the COVID-19 pandemic, both sides remain engaged in efforts to revive economic flows and encourage greater investments. Cyprus continues to be an important partner in the Foreign Direct Investment space for India, and several Indian firms view Cyprus as a strategic gateway to the European Union.
from National https://ift.tt/65w0vsQ