The Republic of Cyprus became a full member of the European Union on May 1, 2004. Accession to the EU was a natural choice for Cyprus, driven by its culture, civilization and history, as well as its unwavering commitment to the values of democracy, freedom and justice.
With the dawn of 2008, Cyprus joined the European Monetary Union leveraging a robust economic performance marked by banner key indicators, thus adopting the Euro as its national currency.
Cyprus launched an era of opportunities and responsibilities for the island, as well as an era of commitment to growth. Cyprus encourages Foreign Direct Investment in priority economic growth sectors, as highlighted in the country’s Strategic Development Plan 2014-2020, with the introduction of a number of measures, reform initiatives and investment opportunities.
Cyprus has a lot to benefit from EU membership and despite its small size, a lot to offer as well. Being Europe’s Eastern outpost at the intersection of important transport and communications routes and at the crossroad of three continents, Cyprus provides a secure gateway for European enterprises into the Middle East, North Africa and Asia, while offering non-European businesses and entrepreneurs possibilities for investment into Europe.
With its advanced technical infrastructure and skilled human talent, Cyprus has become a regional quality business and financial centre, as well as a major communications and transport centre, and is also fast developing into an energy hub in the Eastern Mediterranean.
Apart from the EU, the Republic of Cyprus is a member of many international organisations including the United Nations, the Council of Europe, the World Trade Organization, the Commonwealth, the World Bank, and the International Monetary Fund, and is represented through diplomatic missions in over 40 countries.
Overall, Cyprus is a member of the following international organisations:
European Union and Eurozone
The World Trade Organization
The International Monetary Fund (IMF)
The World Bank
The Council of Europe
The United Nations