Cyprus and China discuss economic cooperation and updated tax treaty

Cypriot Finance Minister Makis Keravnos met with the new Chinese Ambassador to Cyprus, Yang Yundong, on Friday at the Ministry of Finance in Nicosia. The meeting, which took place as a courtesy visit following the Ambassador's appointment, focused on strengthening bilateral economic, commercial, and investment ties across sectors including shipping, green finance, ICT, tourism, and agriculture.

A primary topic of the discussion was the potential update of the 1990 Double Taxation Avoidance Agreement between the two nations. Minister Keravnos emphasized the resilience of the Cypriot economy as reflected by international rating agencies and expressed an interest in increasing Cypriot exports to the Chinese market. Additionally, the Minister expressed gratitude for China’s consistent support as a permanent member of the UN Security Council regarding a sustainable resolution to the Cyprus problem.

This high-level dialogue occurs as both countries celebrate 55 years of diplomatic relations and the fifth anniversary of their upgrade to a Strategic Partnership. These talks serve as part of the preparations for an official visit by President Nikos Christodoulides to China, scheduled for early 2027.