Oil & Gas

Cyprus, Egypt, Greece Tripartite Summit Declaration

A third Trilateral Summit between Greece, Egypt and Cyprus in Athens on Wednesday effectively solidified the foundations of the cooperation between the neighbouring countries in the years to come.

“Our 3rd Trilateral Summit underlines our well-established and continuous tripartite partnership aiming at promoting peace, stability, security and prosperity in the Eastern Mediterranean in various fields – political, economic, trade, culture, tourism,” a declaration said.

“We remain committed to effectively promoting our common values and interests and continuing to work towards enhancing our tripartite consultation at all levels,” it added.

President Nicos Anastasiades, his Egyptian counterpart Abdel Fattah Al-Sisi and Greek Prime Minister Alexis Tsipras also re-emphasize that the discovery of important hydrocarbon reserves in the Eastern Mediterranean can serve as a catalyst for peace and stability in the region. Including the most recent one – that in “Zohr” gas field in Egypt’s Exclusive Economic Zone.

“This objective would be better served through the adherence by the countries of the region to well established principles of international law,” the declaration said.


Egyptian President Abdel Fattah Al-Sisi with President of Cyprus Nicos Anastasiades and Greek Prime Minister Alexis Tsipras in Athens (Source: inCyprus)

“Recognizing the universal character of the UN Convention on the Law of the Sea (UNCLOS) to which all three countries are State-Parties, we agree to accelerate negotiations on the outstanding issues related to the delimitation of our three counties’ adjacent maritime zones,” it added.

Recognizing that maritime industry and tourism are vital components of the economy of their countries, the three leaders also agreed to continue working closely together with a view to strengthening cooperation on common projects.

(Source: inCyprus)


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