The Italian-Cypriot Chamber of Commerce is pleased to announce the signing of a landmark Memorandum of Understanding (MoU) between the Italian Federation of Aerospace, Defence, and Security Industries (AIAD – Federazione Aziende Italiane per l’Aerospazio, la Difesa e la Sicurezza) and the Cyprus Association of Research and Innovation Enterprises (CARIE).
The strategic agreement was signed during the second day of the prestigious international Defence and Security exhibition DEFEA 2025 in Athens, marking a significant milestone in strengthening bilateral cooperation between Italian and Cypriot defence industry ecosystems.
A Framework for Enhanced Collaboration
The ceremony took place at the Italian pavilion at DEFEA, with Tasos Kounoudes, President of the Cyprus Association, signing on behalf of CARIE, and Carlo Festucci, Secretary General of AIAD signing on behalf of the Italian Federation. The signing was witnessed among others Luisa Riccardi, Deputy National Director of Armaments at the Italian Ministry of Defence, Federico Franchina, Vice President of the Italian-Cypriot Chamber of Commerce, and Andreas Andreou, Deputy Secretary General of the Cyprus Chamber of Commerce and Industry (CCCI).
This agreement, actively promoted by the Italian-Cypriot Chamber of Commerce lead by the President Giuseppe Marino and Vice Presidents Federico Franchina and Costas Katsaros (also President of the Cyprus-Italy Business Association), establishes a framework for strengthening industrial cooperation between companies from both countries, with a particular focus on:
- Joint research and development projects
- Collaborative participation in European programs
- Strategic initiatives in the aerospace, defence, and security sectors
Building Competitive Advantages
Both organizations have reaffirmed their commitment to fostering long-term collaboration aimed at enhancing industrial synergies and supporting innovation-driven partnerships. Through this cooperation, AIAD and CARIE aim to:
- Strengthen the competitiveness of their respective industrial ecosystems
- Facilitate broader access to international markets
- Contribute to the advancement of cutting-edge research, innovation, and technology transfer
- Create new opportunities for member companies in both countries
A Strategic Vision for the Future
This MoU represents a key development in the ongoing efforts of the Italian-Cypriot Chamber of Commerce to foster stronger economic ties between Italy and Cyprus in strategic sectors. The defence and security industries represent areas of significant potential for technological cooperation and industrial growth.
The collaboration establishes a solid foundation for member companies from both associations to explore new business opportunities, share expertise, and develop joint solutions to address evolving challenges in the aerospace, defence, and security domains.
For information regarding the content of this article and the activities of the Italian-Cypriot Chamber of Commerce, please send an email to: segreteria@camcomitacipro.it
Last modified: May 10, 2025