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President of Cyprus: Cypriot Defense Industry to Reach Double-Digit GDP Contribution

Published February 16, 2026, 09:11
President of Cyprus: Cypriot Defense Industry to Reach Double-Digit GDP Contribution

The President of Cyprus, Nikos Christodoulides, met with members of the Cypriot Defense Industry Council to assess the progress of the goals set a year ago. The President expressed his strong belief in the potential of the Cypriot defense industry, highlighting the prospects of SAFE and the 15% clause in equipment purchases. He also mentioned strengthening the extroversion of Cypriot companies and his support for initiatives such as participation in exhibitions in Athens. Mr. Christodoulides expressed optimism that the Cypriot defense industry could reach a double-digit percentage in terms of its contribution to the country's GDP in the coming years, considering this fully achievable given the potential of the sector. He stressed that the development of the defense industry contributes both to the economy and to strengthening Cyprus's deterrent power. The meeting focused on reviewing achievements, challenges, and steps that need to be taken to further develop the industry. The President requested specific data on the progress made, the obstacles encountered, and proposals for addressing them. The creation of a registry of Cypriot companies operating in the defense industry was also discussed. Overall, the meeting aimed to ensure that the Cypriot defense industry is on track to achieve its goals and contribute to the economic and geopolitical strengthening of Cyprus. President Christodoulides pledged to continue supporting the sector and promoting its potential at national and international levels.

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