articles | 09 August 2016

Cyprus and Egypt discuss energy and investments

Energy cooperation between Cairo and Nicosia, developments on the Cyprus issue and the promotion of business projects were the focal point of recent discussions between Foreign Minister Ioannis Kasoulides and Egypt’s political leadership.

Kasoulides met in Cairo with Prime Minister Sherif Ismail and was later received by President Abdel Fattah el-Sisi. The meeting lasted over half an hour.

According to a diplomatic source from the foreign ministry, Kasoulides was accompanied at both meetings by his Egyptian counterpart, Sameh Shoukry, while in the afternoon the two men embarked on official consultations at the foreign ministry in Cairo.

With Sisi, Kasoulides discussed the preparation of an upcoming trilateral summit of Cyprus, Egypt and Greece, to be held in the Egyptian capital in October, the Cyprus issue and developments in Turkey.

Kasoulides briefed President Sisi on Cyprus developments. The Egyptian side appeared particularly keen to hear Nicosia’s view on developments in Turkey and the way it might impact the settlement process.

The two also discussed progress with regards to investment schemes decided at an earlier trilateral meeting, last December in Athens. Two of the schemes concern the construction of aquaculture infrastructure and the planting of olive trees in Egypt. Sisi and Kasoulides also discussed prospects in tourism, focusing on air transportation and cruise ship trips, connecting destinations in Greece, Cyprus and Egypt.

According to the foreign ministry source, the two sides met in a particularly cordial, friendlyand sincere climate.

Earlier on Tuesday, at the meeting with Ismail, Kasoulides discussed energy matters, focusing on natural gas developments following the third licensing round in Cyprus’ exclusive economic zone, as well as on the cooperation between Cyprus and Egypt in relation to natural gas reserves at the Aphrodite gas field off Cyprus.

The same source noted that the meetings reflected a positive climate for business and for Cypriot investments in Egypt, facilitated by political relations between the two countries.

Source: Cyprus Mail

Cooperation Partners
  • Logo for CYFA Cyprus
  • Logo for Ministry of Energy, Commerce, Industry and Tourism
  • Logo for Cyprus Investment Funds Association
  • Logo for Cyprus Chamber of Commerce and Industry
  • Logo for Cyprus International Businesses Association
  • Logo for Invest Cyprus
  • Logo for Cyprus Shipping Chamber
  • Logo for Association of Cyprus Banks
  • Logo for Love Cyprus Deputy Ministry of Tourism