These agreements were formalised during a tripartite summit held in the Egyptian capital, bringing together the leaders of Cyprus, Greece, and Egypt to discuss collaboration across multiple sectors. The agency pointed out that the MoUs cover a number of critical areas such as investment, healthcare, water resource management, technology, and port development. It further explained that this reflects the commitment of the three nations to strengthen regional cooperation and drive mutual growth.

A standout among them was the tripartite MoU between Invest Cyprus, Enterprise Greece, and Egypt’s General Authority for Investment and Free Zones (GAFI), aimed at boosting entrepreneurship and investment across the three countries.

Signed by the foreign ministers, these MoUs promise to catalyse economic ties and facilitate the exchange of expert knowledge, enhancing regional entrepreneurship. The summit was followed by a business forum organised by the Federation of Egyptian Chambers of Commerce (FEDCOC) and the Association of Mediterranean Chambers of Commerce.

Cyprus’ Energy Minister George Papanastasiou, engaged in panel discussions with his Greek and Egyptian counterparts, focusing on deepening bilateral and trilateral cooperation and identifying new funding sources.

Highlighting the forum was a presentation by Marios Tannousis, CEO of Invest Cyprus, who outlined the business opportunities within Egypt, Cyprus, and Greece. Tannousis emphasised Cyprus’ role as a leading investment destination, noting the stability provided by its EU membership and the support Invest Cyprus offers to businesses piloting their investment journeys. His sentiments were echoed by Hossam Heiba, CEO of GAFI, and Marinos Giannopoulos, CEO of Enterprise Greece, who each presented on the business climates in their respective countries. In his address, Tannousis underlined the importance of the new partnerships. “By creating strategic partnerships between Cyprus, Greece, and Egypt, we are forming a platform that promotes sustainable development and collective prosperity, offering businesses the opportunity to grow and thrive in the region,” the Invest Cyprus CEO said.

Meanwhile, the agency concluded its statement by saying that “the tripartite summit underlined the importance of regional cooperation in addressing challenges and fostering economic growth, while Invest Cyprus reaffirmed its role as a cornerstone in attracting foreign investment”.

It should be noted that during the event, Greek prime minister Kyriakos Mitsotakis stressed that the primary objective remains the enhancement of cooperation in the energy sector, aligned with both national and European priorities. The focus lies on energy security, the integration of renewable energy sources (RES), and connections to the GREGY project, which serves as an energy bridge between the two continents. Additionally, Mitsotakis said that carbon capture and storage (CCS) represents a burgeoning market of considerable importance, offering significant opportunities for collaboration.

On his part, Egyptian president Abdel Fattah el-Sisi underscored the critical role of joint energy initiatives in the renewable energy, oil, and gas sectors, as well as in interconnection projects. He also said that these efforts are pivotal to bolstering energy security. Within this framework, he highlighted both the trilateral memorandum of cooperation and the bilateral agreement signed with Cyprus.

Meanwhile, Cypriot president Nikos Christodoulides affirmed a shared approach to energy collaboration, particularly regarding the exercise of sovereignty over maritime resources.

Source: Cyprus Mail