Cyprus Minister of Finance discusses growth of defense and space sector

On Friday, November 13, 2026, the Cypriot Minister of Finance, Makis Keravnos, met with representatives of the Cyprus Association of Defense and Space Industries (CyDSIC) at the Ministry of Finance in Nicosia to discuss the strategic development of the nation's defense industrial sector.

During the meeting, CyDSIC members provided a comprehensive update on the current status of domestic defense and space enterprises. They outlined the industry's recent developments, ongoing challenges, and significant growth prospects. A key focus of the discussion was the active participation of Cypriot firms in European defense and space programs, as well as the strategic utilization of EU funding mechanisms, specifically the SAFE program. These initiatives are intended to enhance the international competitiveness, innovation, and global market presence of the local industry.

Minister Keravnos officially recognized the defense sector as a dynamic pillar of the Cypriot industrial and export economy. This meeting follows earlier efforts by the government and the Chamber of Commerce to integrate local businesses into the broader European defense ecosystem to foster technological advancement and industrial expansion.