The session focused on ways to enhance economic, trade, and
investment cooperation between Egypt and Cyprus.
Abdelatty welcomed the productive cooperation with the
Cyprus Chamber of Commerce and Industry. He emphasized the importance of
intensifying bilateral meetings and events at both governmental and private
sector levels. He also highlighted the crucial role of the private sector in
advancing economic and investment relations between the two countries.
The Foreign Minister reviewed the economic reforms
implemented by the Egyptian government in recent years. He noted key advantages
of the Egyptian market, including skilled labor availability, a strategic
geographic location, advanced infrastructure, free trade agreements with
multiple markets, and the investment boom in the Suez Canal Economic Zone.
Abdelatty stressed the importance of building on the
outcomes of the Egyptian-Cypriot-Greek Business Forum held in Cairo last
January. The forum resulted in a cooperation protocol between the three chambers
of commerce and the establishment of a joint business council. This council
aims to strengthen trilateral economic relations, increase trade, and boost
joint investments.
He also highlighted Egypt’s interest in activating and
expanding the bilateral labor agreement to cover multiple sectors. This serves
the interests of both countries and provides quality job opportunities for
Egyptian workers.
Badawi reviewed joint efforts to connect Cypriot gas fields
to Egyptian facilities. He discussed ongoing initiatives to strengthen energy
security for both nations. He also highlighted Egypt’s advanced infrastructure,
including gas liquefaction plants and transport networks. He stressed Egypt’s
commitment to enhancing regional and international cooperation to secure energy
sources and maximize the use of its infrastructure as a regional energy hub.
The meeting included extensive discussions on opening
broader horizons for bilateral economic relations. Participants explored ways
to enhance economic cooperation, mutual investment, and sustainable growth.
They also discussed new avenues for collaboration based on the multiple
opportunities available. These efforts aim to enable both countries to fully
capitalize on their true potential.