POLITICAL:
Nepal and Cyprus established diplomatic relations on 18 August 1980. The relations between the two countries have always been warm, friendly and cordial marked by mutual respect, trust and understanding of each other’s views and interest. Nepalese Ambassador to Israel is concurrently accredited to Cyprus and Ambassador of the Republic of Cyprus in New Delhi, India is concurrently accredited to Nepal.
Currently, Dr Ram Jiwan Panjiyar has been serving as Honorary Consul of Nepal in Cyprus. Likewise, Mr Padma Jyoti is serving as the Honorary Consul of Cyprus in Kathmandu. Cyprus joined the European Union (EU) on May 1, 2004.
EXCHANGE OF VISITS:
Exchange of high-level visits between the two countries has helped in fostering friendly relations between Nepal and Cyprus. Late King Birendra and Queen Aishwarya paid an official visit to Cyprus in 1982. Prime Minister, Rt. Hon. Mr K. P. Sharma Oli had visited Cyprus in 2003 in the capacity of the then Minister for Home Affairs. Recently, Hon. Minister of Culture, Tourism and Civil Aviation Mr Yogesh Bhattarai visited Cyprus on 14-15 February 2020 in course of officially inaugurating Visit Nepal Year 2020 in Cyprus. H. E. Demetris Syllouris, President of the House of Representatives of the Republic of Cyprus, was visiting Nepal to take part in the first episode of Sagarmatha Sambaad, which, however, is postponed, unfortunately.
COOPERATION:
So far, there have been no significant exchanges in the economic field between the two countries, except the presence of a sizeable Nepalese Diasporas in Cyprus, a few hundred Cypriot tourists visiting Nepal every year and Cyprus as a destination for higher studies for few Nepalese students. Given the importance of Cyprus as EU member and its modern economy, there exists some scope for further expanding and deepening cooperation between the two sides, especially in tourism, education, investment, and foreign employment sector.
Government of Cyprus has been providing a limited number of seats for the various training to Nepal, especially in the fields of hotel management, tourism development, forestry development and police training.
TRADE/INVESTMENT:
The trade relations between Nepal and Cyprus are growing day by day. Nepal exported articles of silver jewellery and precious metals, wood articles, paper and paperboard, readymade garments to Cyprus whereas the Pharmaceutical products have been the main import-items from Cyprus which occupied 99.4% of the total import last year. Nepal exported goods worth nearly $1,337 whereas imported goods worth $95,728 in 2019.
| Year | Export ($) | Import ($) | Trade Balance ($) |
| 2014 | 13666 | 24492 | -10826 |
| 2015 | 9472 | 84675 | -75203 |
| 2016 | 29716 | 108571 | -78855 |
| 2017 | 13327 | 323824 | -310497 |
| 2018 | 15726 | 187169 | -171443 |
| 2019 | 1337 | 95728 | -94391 |
Source: TEPC
As of Nepali FY 072/73, there were 3 projects approved for Foreign Investment with financial resource valued NRs. 312 million from Cypriot entrepreneurs. The projects were expected to creating employment opportunities for over 275 persons.