Filenews 16 February 2026
The will of the government to strengthen the deterrent power of the Republic of Cyprus and the utilization of the potential of the domestic defense industry was reiterated by the President of the Republic Nikos Christodoulides, during his meeting with the members of the Cyprus Defense Industry Council, at the Presidential Palace.
The meeting took place in the presence of the Minister of Defence, Vassilis Palmas, and focused on assessing the progress of the Council one year after its establishment, as well as on determining the next steps.
The President said that the government had set specific goals with the creation of the Council, stating that "we took the decision last year to institutionalize the Cyprus Defense Industry Council and I want to see what we did in a year. We set some goals, I want to see what was implemented, what was not implemented. We had also talked about a register of Cypriot companies. It is important to strengthen the extroversion of Cypriot companies. You know very well how much I believe in your potential. I always make a public report because I really believe that the Cypriot defense industry is very promising."
Nikos Christodoulides reiterated his confidence in the capabilities of the sector, describing the Cypriot defense industry as a "promising new pillar" of the economy. As he mentioned, European initiatives, such as the SAFE framework, as well as the provisions for equipment procurement from third countries and participation in international exhibitions, create additional opportunities for Cypriot businesses.
At the same time, he stated that he is ready to actively support the industry at an international level, stating that he has responded positively to an invitation for his presence in Athens, in the context of relevant promotion and cooperation initiatives.
The President of the Republic expressed the assessment that the Cypriot defense industry can reach a double-digit percentage of participation in the country's GDP in the coming years, noting that this is a realistic goal, based on the existing capabilities. "I consider it entirely possible that the Cypriot defense industry in the coming years will reach a double-digit number in terms of the country's GDP. And what I am saying is not an exaggeration at all."
Concluding, the president said that "I know very well your capabilities. It is a promising new sector of our economy, but also within the framework of our own clear will to strengthen the deterrent power of our country. So, I want to see specifically today what we have achieved, how we are moving forward, what we need to correct and that is why he called this meeting."
