Very constructive and very productive were the bilateral meetings of the Minister of Energy, Trade and Industry, Natasha Pileidou, with the Egyptian Ministers of Electricity and Renewable Energy Mohamed Shaker El-Markabi, Petroleum Tarek el-Molla and Trade Nevin Gamea, within the meeting first intergovernmental agreement between Cyprus and Egypt, which took place on Saturday, September 4, 2021.
The Cypriot Minister is very pleased with the decisions taken at these meetings on a number of important policies being promoted between the two countries and expresses confidence that in the coming months many of these issues will make great progress.
In particular, in the energy sector, instructions were given by the ministers concerned to expedite the work of the Joint Committee set up to implement the Intergovernmental Agreement on the construction of an Aphrodite submarine pipeline in the Cyprus Zone in Egypt. In this context, a meeting of the relevant technical committees has already been scheduled for 15 September 2021 in Cairo, which will consider various scenarios regarding capacity, technical specifications, economic aspects and the pipeline route.
Cyprus and Egypt expressed their commitment to further promote the international organization “Eastern Gas Mediterranean Forum” (EMGF), in which both countries participate as founding members. With the hard work done, in one year of its existence, the organization has expanded, now numbering 8 member countries and 3 observer members, including America and the European Union. “Cyprus has ensured that, upon taking over the EMGF Presidency from 1 January 2022, it will work in coordination with the Egyptian side to implement the common objectives for the efficient use of member countries’ energy resources and the transition to green energy,” he said. Natasha Pilidou.
One of the most important decisions of the Minister’s contacts the day before is the agreement for a Memorandum of Understanding on the Cyprus-Egypt electricity interconnection to be signed in the coming months. Natasha Pilidou invited her counterpart to pay an official visit to Cyprus to sign the Memorandum of Understanding. Subsequently, the signing of a Tripartite Memorandum of Understanding between Egypt-Cyprus-Greece is planned to promote the three countries’ electricity interconnection through the “EuroAfrica Interconnector” project.
Furthermore, under the Cyprus-Egypt Agreement in the field of electricity and renewable energy sources, it was agreed to exchange knowledge in these areas, especially in the use of solar thermal and photovoltaic systems, as well as green hydrogen production. .
In the field of trade, it was agreed that the organization of business forums be institutionalized at regular intervals in order to strengthen the links between the respective chambers of business. The goal, according to Natasha Pilidou, is to increase trade in services and goods between the two countries, especially pharmaceutical preparations and aquaculture products. It was agreed that in the first phase, a business meeting will be organized in Cairo within the next few months, with the participation of Cypriot and Egyptian businessmen in areas of common interest.ibna