Cyprus President Nikos Christodoulides announced on Thursday a decision for the establishment of a Cyprus Trade Center in Mumbai, which will begin operations on September 1st this year.

President Christodoulides, who is paying India a state visit, was addressing the Cyprus-India Business Forum.

The Cyprus Trade Center, the President added, “besides showing our clear political will to enhance even more our economic ties, is designed to function as a hub for business connectivity – helping Indian companies explore opportunities in Cyprus and across Europe, encouraging partnerships with Cypriot enterprises and facilitating access to the European Union through a stable, transparent and fully EU-compliant business environment.”

President Christodoulides expressed his belief “that this decision will open new avenues for investment, trade and innovation, while reinforcing Cyprus’ position as a reliable entry point for Indian businesses into Europe and the broader region.”

Referring to Mumbai he said it “is in fact a mirror reflection of the strong ambition and outward-looking spirit that define this incredible country.” He also referred to six important agreements which were signed between the business communities of the two countries.

Referring to the current Cyprus EU Council Presidency, President Christodoulides noted that it “presents a unique opportunity to use the momentum in EU-India relations as a pedestal for stronger Cyprus-India economic and business cooperation. In fact, EU-India relations are at an unprecedented high.”

On his part, Chief Minister of Maharashtra Devendra Gangadharrao Fadnavis said President Christodoulides’ presence “carries a deep significance”, noting that “it represents the arrival of a new era in India-Cyprus relations, an era driven by strategic ambition, economic confidence, and a shared vision for the future.”