Monaco looks to Cyprus for growth opportunities

monaco cyprus

Against the backdrop of a meeting of the Small States of Europe, representatives from Monaco and Cyprus convened to discuss the possibility of future partnerships between the two Mediterranean nations. 

Founded in Monaco in 2006 by Stéphane Valeri, the Conference of Presidents of the Parliaments of the Small States of Europe (CPPPEE) is an annual meeting with the purpose of strengthening interparliamentary relations between the nine small states of Europe. 

Thus, representative from Andorra, Cyprus, Iceland, Liechtenstein, Luxembourg, Malta, Monaco, Montenegro and San Marino gathered from 18th to 20th June in Luxembourg to discuss the issues and challenges facing their nations. 

In a separate meeting held outside the conference, Monaco’s National Council President Brigitte Boccone-Pagès met with Annita Demetriou, the president of the House of Representatives of Cyprus, to consider ways to strengthen their relationship.  

Cyprus and Monaco already have economic ties. In 2018, Monaco Telecom became a nearly 50% shareholder in the country’s second largest and fastest growing telecom company, MTN, which has since been renamed Epic. It was a €260 million deal. 

During the recent meeting, Boccone-Pagès and Demetriou agreed to a series of regular videoconferences over the next 12 months, which will give them a platform to discuss a range of topics of common interest, with a particular emphasis on the digital economy.  


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Photo credit: Conseil National de Monaco