President's Receptions
The Tenth Egypt–Cyprus–Greece Trilateral Summit
Wednesday، 08 January 2025 - 10:40 PM
President Abdel Fattah El-Sisi received Cypriot President Nikos Christodoulides, and Prime Minister of Greece, Kyriakos Mitsotakis, on the sidelines of the 10th Summit of the Trilateral Cooperation Mechanism among Egypt, Cyprus and Greece.
This is the tenth summit between the leaders of the three countries, since the establishment of the tripartite cooperation mechanism, which began with the holding of the first tripartite summit in Cairo in 2014, and was followed by successive summits in the capitals of the three countries, to support the cooperation mechanism and discuss regional and international issues of common interest.
Events
Wednesday: 8-1-2024
President Abdel Fattah El-Sisi received Prime Minister of Greece, Kyriakos Mitsotakis, on the sidelines of the 10th Summit of the Trilateral Cooperation Mechanism among Egypt, Cyprus and Greece.
During the meeting the two sides underscored the depth and robustness of the historical relations between Egypt and Greece. They also reaffirmed their commitment to significantly enhance collaborative endeavors to foster their partnership.
The talks centered on ways to chart a course of deeper bilateral cooperation across various fields, with particular emphasis on economic spheres. President El-Sisi and Greek Prime Minister Mitsotakis confirmed the crucial need to forge closer cooperation within the framework of the East Mediterranean Gas Forum (EMGF) and to work toward implementing the electricity interconnection project between the two countries. They also concurred on the importance of enhancing collaboration in the areas of migration and seasonal labor recruitment, and to expand the scope of bilateral cooperation to encompass all domains of mutual interest.
The discussions also covered regional developments, primarily the situation in Palestine. President El-Sisi and Greek Prime Minister Mitsotakis emphasized the urgent need to establish a ceasefire and ensure the delivery of humanitarian aid and relief into the Gaza Strip. They reiterated the vital importance of enforcing the implementation of the two-state solution, while confirming the necessity to solidify the ceasefire agreement in Lebanon and ensure the implementation of UN Security Council resolution 1701. President El-Sisi and the Greek Prime Minister unequivocally stressed the indispensable need to prevent an escalation of tensions within the region, and to cultivate an environment of calm and stability.
Additionally, the two sides exchanged visions on the situations in Syria, Libya and Sudan. They underlined the vital significance of safeguarding the security, stability, unity and territorial integrity of these countries, while asserting the critical need to initiate a comprehensive political process conducive to achieving the desired state of peace and stability so as to protect the resources of these countries and their peoples.
Egypt’s trade exchange with Greece reached $1.5 billion in the first 11 months of 2024, a slight decline from $1.8 billion during the same period in 2023, according to the latest data from the official statistics agency CAPMAS on Wednesday.
The drop was largely driven by a fall in Egyptian exports to Greece, reaching $1 billion in 11 months from $1.3 billion in 2023. Key Egyptian exports included fuel, mineral oils, and distillation products at $610 million, fertilisers at $92 million, vegetables and fruits at $84 million, plastics and their products at $46 million, and iron and steel at $33 million.
On the import side, Egypt saw a slight increase, importing $530 million from Greece, up from $523 million in the previous year, with notable imports including fuel, mineral oils, and distillation products at $274 million, cotton at $120 million, fruits and produce at $44 million, tobacco at $15 million, and electrical machinery and equipment at $15 million.
In terms of economic relations, Egyptian remittances from Greece amounted to $15 million in the 2023/2024 fiscal year, reflecting a small increase from $14.3 million the previous year. Greek investments in Egypt also saw an uptick, rising to $13.9 million from $6.7 million, while Egyptian investments in Greece remained modest, totaling $1 million, up from $700,000 million the previous year.
With both nations looking to bolster their economic ties, a trilateral summit is currently taking place in Cairo, bringing together Egypt, Greece, and Cyprus. During the summit, President Abdel Fattah El-Sisi is meeting with Greek Prime Minister Kyriakos Mitsotakis, and the Egyptian-Greek-Cypriot Economic Forum is being held on the sidelines to enhance economic collaboration.
Trade between Egypt and Cyprus reached a total of $217 million during the first 11 months of 2024, more than doubling the $108 million recorded during the same period in 2023, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS).
Egypt’s exports to Cyprus showed remarkable growth, rising to $181 million in the first 11 months of 2024 from $96 million during the same period in 2023. Major export categories included iron and steel, which accounted for $92 million, fertilizers at $43 million, paper at $8 million, and plastics at $6 million.
On the import side, Egypt’s purchases from Cyprus increased to $36 million during the same timeframe, compared to $12 million in 2023. The most significant imported goods were fuel and mineral oils worth $28 million, electrical equipment and devices at $4 million, and pharmaceutical products at $1 million.
Investments between the two countries also experienced a significant boost. Cypriot investments in Egypt soared to $114.6 million during the 2023/2024 fiscal year, compared to $35.2 million in 2022/2023. Similarly, Egyptian investments in Cyprus grew to $40 million, up from $17.3 million in the previous fiscal year.
The figures highlight the strengthening economic relationship between Egypt and Cyprus, with both nations benefiting from expanding trade and investment activities across multiple sectors.
The 10th Summit of the Trilateral Cooperation Mechanism
President Abdel Fattah El-Sisi participated, 8-1-2025, in the 10th summit of the tripartite mechanism between Egypt, Cyprus and Greece, and the second meeting of the joint high governmental committee between Egypt and Cyprus, which were held at Al-Ittihadiya Palace in Cairo.
President El-Sisi’s Speech at the Opening of the 10th Summit of the Trilateral Cooperation Mechanism
“In the name of Allah, the Most Beneficent, the Most Merciful”
Your Excellency President Nikos Christodoulides,
President of the Republic of Cyprus,
Prime Minister Kyriakos Mitsotakis,
Prime Minister of the Hellenic Republic,
Ladies and gentlemen,
It gives me great pleasure to welcome you to Egypt, your second home, for the 10th Summit of the Trilateral Cooperation Mechanism between Egypt, Greece and Cyprus. This collaborative endeavor serves as a testament to the robust and enduring bonds our peoples and countries share, embodying an outstanding model of integrated regional cooperation.
The past years have demonstrated that this mechanism is not merely a platform for deliberations on regional issues. Instead, it is a solid partnership dedicated to fostering stability in our region, which relies on our strong partnership to effectively address economic, political and social challenges.
Cooperation and coordination among our countries are of vital importance, given the developments unfolding in the Middle East. In this regard, allow me to express my appreciation to your countries’ stances in support of the right of the Palestinian people to attain their independence and establish their independent state, in line with international references and the relevant UN resolutions. In this regard, I strongly emphasize the urgent need to significantly increase efforts and apply substantial pressure in order to establish calm in the region and address its pressing issues, primarily the wars in Gaza and Lebanon, and reinforce stability in Syria, Libya, Yemen and Sudan. We must prevent a prolonged or intensifying conflict in the region and avert its escalation into a full-scale war, given the devastating ramifications that will impact everyone, either politically, economically or security-related, in addition to unprecedented waves of displaced persons and illegal migration.
Ladies and gentlemen,
Economic cooperation among our countries is a pivotal strategic move, not only by boosting economic growth, but also by serving as a cornerstone for achieving our shared aspiration of strengthened regional economic integration.
Drawing upon this, I welcome the convening of the Business Forum among our countries’ business communities, which is being held today on the sidelines of this summit. This forum will constitute a key venue for sharing visions and expertise, exploring mutual investment opportunities, and ultimately benefiting our peoples.
I would also like to acknowledge the productive energy cooperation among our countries, which has emerged as a critical pillar of our joint strategy. The electricity interconnection project between Egypt and Greece represents a landmark achievement in efforts to forge closer regional integration in this realm. The project unlocks the potential for exchanging clean energy, thereby significantly advancing our transition to a green economy.
Our cooperation with Cyprus on natural gas embodies a demonstrable vision of the great successes we can achieve by leveraging Egyptian Liquefaction infrastructure to re-export gas to European markets. This manifests the immense potential of our countries and our ability to secure energy supplies for Europe.
Ladies and gentlemen,
The partnership among our countries extends beyond that to encompass cultural and educational relations, reflecting our deep humanitarian and historical bonds.
From this perspective, we call for the development of joint projects to strengthen cooperation in the areas of higher education, scientific research and arts, with the aim of promoting a culture of mutual understanding.
I would also like to emphasize the key role of the tourism sector in bolstering economic cooperation among our countries. Our nations are blessed with abundant and stunning tourist destinations. Therefore, cooperation in this domain, whether through joint destination marketing and the promotion of cultural and environmental tourism, will yield substantial benefits for our peoples and stimulate tourism growth among our friendly countries.
In conclusion, I wish to once again welcome the leaders of Cyprus and Greece in Egypt, and reaffirm the need to uphold the profound and productive cooperation among our countries. I also reiterate commitment to our continued collaboration to achieve the shared interests and prosperity for our peoples across all sectors of cooperation.
Thank you
Related Stories
Most Visited
Egypt Expands Textile Industry with $10M New Chinese Investment in SCZone
Sunday، 16 March 2025 02:44 PM
Core Consumer Price Index inflation falls in January 2025: CBE
Tuesday، 11 March 2025 09:45 PM
Egypt condemns Israeli airstrikes on Gaza
Tuesday، 18 March 2025 12:34 PM
