Nicosia, Cyprus — Liberia has stepped up efforts to attract European private-sector investment as Ambassador Extraordinary and Plenipotentiary Dr. Teeko T. Yorlay met with senior leadership of the Cyprus Chamber of Commerce and Industry (CCCI) in Nicosia to advance trade and investment cooperation between the two countries.
Ambassador Yorlay, Liberia's envoy to France and concurrently accredited to Cyprus and several European states, held talks with CCCI Secretary General Philokypros Roussounides, focusing on expanding bilateral economic relations through stronger private-sector engagement.
During the meeting, Ambassador Yorlay highlighted Liberia's ongoing economic reforms and investor-friendly policies, pointing to key sectors with high investment potential, including agriculture, mining, energy, fisheries, health services, and infrastructure development. He underscored Liberia's commitment to transparency and predictability, urging Cypriot companies to consider the country 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 said. "Liberia offers not only opportunity but genuine partnership. We invite Cypriot enterprises to explore sustainable and mutually beneficial investments in West Africa."
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Mr. Roussounides welcomed the initiative and expressed the CCCI's interest in identifying viable opportunities for Cypriot businesses in Liberia. He raised concerns related to banking services, capital mobility, and financial operations for companies seeking to establish operations in Liberia, noting Cyprus's growing investment footprint across several African economies.
He further recommended direct engagement between the Liberia Chamber of Commerce and the CCCI to translate diplomatic discussions into concrete business partnerships.
Ambassador Yorlay reaffirmed the Liberian government's commitment--under President Joseph Nyuma Boakai--to strengthening relations with Cyprus through economic diplomacy. He emphasized that improving the business environment remains central to Liberia's development agenda and encouraged Cypriot, European, and international investors to partner in job creation and economic growth.
As part of next steps, the Ambassador proposed negotiating a Memorandum of Understanding (MoU) between the Liberia Chamber of Commerce and the CCCI to formalize cooperation, promote private-sector partnerships, and boost commercial exchanges. He also suggested organizing a Liberia-Cyprus Business Forum and facilitating reciprocal business delegations, with the possibility of extending participation to the wider Mano River Union region.
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Investment opportunities in energy, pharmaceuticals, and commercial agriculture were also highlighted during the discussions.
The meeting was attended by Ms. Lily Michaelides, Head 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, who oversees Cyprus affairs.
Both sides agreed to strengthen institutional collaboration and maintain direct contact between their respective chambers of commerce, with a draft cooperation agreement expected in the coming weeks.
