7 facts about the Egypt-Greece-Cyprus business council

The recent establishment of the Egypt-Greece-Cyprus Business Council marks a new chapter in trilateral cooperation between these Mediterranean neighbors. Here are seven key facts about this groundbreaking initiative:

The cooperation protocol for the business council was signed during the Egyptian-Greek-Cypriot Business Forum in Cairo. The event was part of the 10th Trilateral Cooperation Summit, a recurring platform that strengthens ties between the three nations.

The primary goal of the council is to enhance trade exchange, promote joint investments, and facilitate deeper economic integration among Egypt, Greece, and Cyprus. This partnership aims to strengthen regional security, stability, and sustainable development.

The partnership spans multiple key sectors, including:

• Energy: Focus on electricity and renewable energy projects.
• Natural Resource Management: Addressing shared challenges in water and environmental sustainability.
• Trade and Investment: Strengthening commercial ties between the three nations.
• Cultural Initiatives: Promoting shared heritage and tourism.

One of the critical focus areas is energy and water security. Egypt has been proactive in diversifying its water resources and expanding renewable energy initiatives, both of which align with the interests of Greece and Cyprus. This partnership also contributes to broader energy security for Europe and the Middle East.

Minister Rania Al-Mashat emphasized the pivotal role of the private sector in driving sustainable economic growth. Egypt has secured $4.2 billion in concessional financing for private sector projects since 2020, setting the stage for businesses to play a leading role in the council’s initiatives.

The council is expected to encourage investments in sectors prioritized by Egypt, Greece, and Cyprus. The European Union and multilateral institutions are providing investment guarantees, which will further incentivize companies to explore opportunities in the region.

Beyond local benefits, the council’s initiatives — especially in energy — are poised to support energy security for Europe and the Middle East. Projects like cross-border electricity and renewable energy infrastructure underscore the strategic importance of this trilateral partnership.

The Egypt-Greece-Cyprus Business Council represents a bold step toward regional integration and economic growth. With a focus on shared challenges and opportunities, the council is poised to become a cornerstone of cooperation in the Eastern Mediterranean.