Ambassador Paulie Iwano of the Republic of Cyprus in Cairo reported that current times represented a real opportunity to begin implementation Natural gas agreement With Egypt, he noted that this partnership is in the area of Natural gas exploration It will contribute to strengthening relations between the two countries and widen the opening of new areas of cooperation.
The Ambassador also added in a special conversation with the Arap Fainance that the trade between Cyprus and Egypt had recently increased markedly to 130%.
It revealed/initiate that the establishment of the Egyptian Cypriot Business Association, which will play a vital role in promoting economic relations and creating more investment opportunities between the two States, has been initiated.
At the outset, we congratulate you on the occasion of the 65th anniversary of the independence of Cyprus, which coincides with the first of October.
This year, we celebrate the 65th anniversary of the independence of Cyprus and 65 years of diplomatic relations with Egypt, where these relations are enjoyed by force and mutual respect. Both States have a distinct geographical location and ongoing cooperation, which prevents the taking of decisions that have a negative impact on each other. We are striving to strengthen these relations in various areas through respect for international law.
How do you assess the scale of the current trade between the two countries?
Economic cooperation is one of the key areas on which Cyprus is focusing with Egypt, and despite the increase in the volume of trade, there is a need for more exploration, with growth of 130%. We are looking for new areas of expansion and increased level of trade cooperation between the two States.
What new areas are you seeking to explore to promote trade?
Our role is to support businessmen in networking and exploring business opportunities, and we are working to promote dialogue between the parties to facilitate productive business partnerships and to develop a legal framework that is in line with the objectives of our cooperation.
In the area of services, there are considerable opportunities for cooperation in tourism, financial services and transport. Cyprus seeks to provide a range of opportunities for investors in these critical areas, which is a gateway to the expansion of the European Union market.
Last February, two conventions were signed for the development of natural gas between Egypt and Cyprus.
These conventions are an important step towards the development of natural gas fields. Cooperation with Egypt will accelerate the investment of these fields, especially since there is a strong infrastructure in Egypt.
What are the possible scenarios for the future of economic cooperation between the two countries?
We welcome cooperation in all areas. Investing in natural gas will pave the way for further partnerships, which will enhance economic activity between the two States.
What are the most important opportunities for cooperation between Egypt and Cyprus in the area of tourism?
Cyprus and Egypt are engaged in effective tourism strategies, and we are seeking to organize joint tourism programmes, which will facilitate travel between the two States and tourist destinations in both countries.
How do you see the importance of economic cartels?
Economic cartels are vital, as Cyprus can be the gateway to the European Union, and Egypt in turn represents a platform for Cyprus to enter the African market; we are witnessing a steady improvement in strategic relations with the European Union.
What current and future cooperation in the area of electrical connectivity?
Electrical link projects are still in the course of studies, and they need substantial investment, and we are working on a plan to secure funding for these projects.
In a tense political situation, how do you see the impact on the economy?
Wars have a negative impact on economic growth; we need to achieve a ceasefire and the introduction of humanitarian assistance.
How can Egypt and Cyprus cooperate in the areas of renewable energy?
There is growing interest in cooperation in renewable energy, and investment opportunities have been discussed in this sector, but to date appropriate start-up companies have not been identified.
How do you see the future of relations between Egypt and Cyprus?
The relations between Egypt and Cyprus are strategic and lasting. We are working to strengthen our cooperation and common interests, and we aspire to establish the Business Society to promote investment opportunities between the two countries.
We recommend: German Ambassador: We are working with Egypt to stop the war in Gaza and reject the displacement of the Palestinian people
