The joint business council aims to strengthen trilateral cooperation and increase the volume of trade exchange and joint investments.
The Egyptian, Greek, and Cypriot Chambers of Commerce have signed a cooperation protocol to establish a joint business council between the three countries.
The joint business council aims to strengthen trilateral cooperation and increase the volume of trade exchange and joint investments.
The protocol was signed on the sidelines of the Egyptian-Greek-Cypriot Business Forum, held at the headquarters of the Egyptian Federation of Chambers of Commerce, coinciding with the 10th Summit of the Trilateral Cooperation Mechanism between Egypt, Greece, and Cyprus.
Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, stated that over the past years, the trilateral partnership between Egypt, Cyprus, and Greece has proven to be a cornerstone for achieving security, stability, and sustainable development in the region.
She highlighted that this trilateral cooperation spans a wide range of fields, including energy, natural resource management, economic and trade collaboration, as well as cultural and environmental issues.
The minister emphasized that the joint declaration issued by the trilateral summit offers promising opportunities to deepen the close partnership among the three countries across various sectors, particularly in the economic, trade, and investment domains, as well as energy and water security.
She noted Egypt’s ambitious measures to diversify water resources, conserve water, and expand renewable energy projects.
Al-Mashat stressed the importance of continuing to implement joint projects, particularly in electricity and renewable energy, which benefit not only the three countries but also contribute to enhancing energy security for Europe and the Middle East.
She also pointed to the critical role of the private sector in achieving sustainable economic growth, a priority for the Egyptian state.
The minister further elaborated on concessional financing provided by development partners to local and foreign private sectors in Egypt, amounting to $4.2 billion, the highest since 2020.
She affirmed that investment guarantees offered by the European Union, along with multilateral institutions, can significantly increase financing for companies investing in Egypt in priority sectors for both the Egyptian state and the EU.
