Liberia and Cyprus Advance Economic Cooperation Following High-Level Meeting in Nicosia

His Excellency Dr. Teeko T. Yorlay, Ambassador Extraordinary and Plenipotentiary of the Republic of Liberia to the French Republic, concurrently accredited to Cyprus, Greece, Monaco, Portugal, Spain, and Switzerland, today held a high-level meeting in Nicosia with Mr. Philokypros Roussounides, Secretary General of the Cyprus Chamber of Commerce and Industry (CCCI). 

The discussions focused on strengthening bilateral economic relations and promoting trade and investment cooperation between Liberia and Cyprus through their respective private sectors.During the meeting, Ambassador Yorlay highlighted Liberia’s ongoing economic reforms and investor-friendly policies, emphasizing priority sectors with strong potential for foreign investment, including agriculture, mining, energy, fisheries, health services, and infrastructure development. He reaffirmed Liberia’s commitment to a transparent and predictable business environment and invited Cypriot companies to view Liberia as a strategic gateway to the West African market.“

The Government of Liberia is committed to fostering a competitive and welcoming investment climate,” Ambassador Yorlay stated. “Liberia offers not only opportunity but genuine partnership. We encourage Cypriot enterprises to explore Liberia as a destination for sustainable and mutually beneficial investment in West Africa.”Mr. Roussounides welcomed the initiative and expressed the CCCI’s interest in identifying business opportunities for Cypriot companies in Liberia. 

He raised questions relating to banking services, capital mobility, and financial operations for companies seeking to establish a presence in Liberia. Noting Cyprus’s growing investment engagement across several African economies, he indicated that Liberia could be considered a prospective destination for Cypriot investment. He further recommended facilitating direct engagement between the Liberia Chamber of Commerce and the Cyprus Chamber of Commerce and Industry to advance practical cooperation. Ambassador Yorlay reaffirmed the commitment of the Government of Liberia, under the leadership of His Excellency Joseph Nyuma Boakai, President of the Republic of Liberia, to strengthening bilateral relations with the Republic of Cyprus through economic diplomacy. 

He emphasized that an enabling business environment is central to Liberia’s development strategy and welcomed Cypriot, European, and international investors to partner in job creation and economic growth.The Ambassador proposed the negotiation of a Memorandum of Understanding (MoU) between the CCCI and the Liberia Chamber of Commerce to establish structured cooperation, promote private-sector partnerships, and enhance commercial exchanges. He also suggested organizing a Liberia–Cyprus Business Forum and facilitating reciprocal business delegations, potentially extending participation to the wider Mano River Union region. In addition, he highlighted investment opportunities in energy, pharmaceuticals, and commercial agriculture. 

The meeting was attended by Ms. Lily Michaelides, Head of the Department of International Relations and Economic Diplomacy at the CCCI, and Mr. Aaron T. Guanue, First Secretary and Consul at the Embassy of Liberia in Paris, responsible for Cyprus.Concluding the meeting, Ambassador Yorlay assured the CCCI leadership of Liberia’s readiness to support foreign investors and facilitate efficient business operations. 

He reiterated that Liberia is positioning itself as an open and reliable partner for mutually beneficial investment cooperation.Both sides agreed to strengthen institutional collaboration and to facilitate direct contact between their respective chambers of commerce. A draft cooperation agreement is expected in the coming weeks.