Nicosia, Cairo Aim At Further Promoting Their Relations In The Fields Of Economy, Energy & Tourism

Nicosia, Cairo aim at further promoting their relations in the fields of economy, energy & tourism

The further promotion and deepening of relations between Cyprus and Egypt in the fields of economy, investments, energy and tourism were the focus of meetings which the Speaker of the House of Representatives of Egypt Ali Abdel Aal and the parliamentary delegation he is heading during his official visit to Cyprus had on Tuesday with the Ministers of Energy, Commerce, Industry and Tourism Yiorgos Lakkotrypis and Finance Harris Georgiades.

NOCOSIA,(UrduPoint / Pakistan Point News - 11th Sep, 2018 ) :The further promotion and deepening of relations between Cyprus and Egypt in the fields of economy, investments, energy and tourism were the focus of meetings which the Speaker of the House of Representatives of Egypt Ali Abdel Aal and the parliamentary delegation he is heading during his official visit to Cyprus had on Tuesday with the Ministers of Energy, Commerce, Industry and Tourism Yiorgos Lakkotrypis and Finance Harris Georgiades.

In statements after the meeting at the Ministry of Finance, Georgiades said that Egypt is a very important country with an important regional economy and this is significant for Cyprus as well.

He said that they discussed with Aal and the parliamentary delegation about the two countries` economic relations and the prospects for further cooperation.

He added that Cyprus as an EU member state supports the extension of European organizations as the EIB and the EBRD activities in Egypt.

Moreover, he noted that the Egyptian delegation stressed that their country does not need economic support but investments.

Endorsing this approach, Georgiades said that Cyprus as a country where business and financial services are provided and as an international financial centre can play a role in this effort of further developing the Egyptian economy, noting that they discussed about these prospects.

He also said that they discussed about the updating of the agreement of double taxation avoidance between Cyprus and Egypt, which can facilitate the expanding of their economic and investment relations.

Georgiades noted that more such moves can be promoted to improve the two countries relations both at the political and the economic level.

Meanwhile, according to information, the Egyptian parliamentary officials discussed with Lakkotrypis about the cooperation between Cyprus and Egypt in the field of energy.

According to a competent source, the Egyptian side assured of its commitment for further cooperation, while the Cypriot side assured about the ongoing effort to supply natural gas from Aphrodite gas field to Egypt. The same source said that developments are soon expected as regards Cyprus interstate agreement with Egypt on this issue.

It also noted that the Egyptian parliamentary officials particularly focused on the Euro-AfricaInterconnector, that will connect the electricity grids of Egypt, Cyprus and Greece with Europeand will be inaugurated in November in Cairo.

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