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Entrepreneurs and businesses eyeing opportunities in the Eastern Mediterranean have reason to celebrate. Cyprus, Greece, and Egypt have formalized a powerful partnership with the establishment of a Trilateral Business Council, a move poised to enhance economic ties and open new doors for trade and investment.
The agreement was sealed on Wednesday in Cairo during a landmark business conference, where representatives of the Cyprus Chamber of Commerce and Industry (CCCI), the Union of Hellenic Chambers of Commerce (UHCC), and the Federation of Egyptian Chambers of Commerce (FEDCOC) signed a Memorandum of Understanding (MoU).
A Platform for Regional Growth
The newly formed Trilateral Business Council is set to facilitate a range of initiatives, including:
- Business matchmaking programs.
- Industry-specific delegations.
- Trade fairs and exhibitions.
- Logistic support to enhance regional trade.
This partnership will be active for an initial three-year term, with automatic renewals, unless otherwise canceled. It aims to capitalize on the strong historic and economic ties between the three nations while creating a direct link between businesses across the region.
Why It Matters for Cyprus
Stavros Stavrou, President of the CCCI, highlighted Cyprus’ strategic role in the initiative, emphasizing the country’s readiness to foster collaboration and innovation. "Cyprus, Greece, and Egypt are uniquely positioned to promote energy security and develop renewable energy solutions. Together, we can transform the Eastern Mediterranean into a global energy hub," Stavrou said.
He also pointed to opportunities in technology, infrastructure, and tourism, stressing that Egypt’s extensive trade network and access to over 3 billion consumers make this partnership especially valuable.
Opportunities for Businesses
The council offers businesses a chance to tap into untapped markets and leverage the combined strengths of the three nations. With Cyprus as a central hub, companies can expect unparalleled access to resources and networks, backed by grants and support mechanisms in the region.
The CCCI is committed to ensuring that the connections and ideas born from this council translate into real-world partnerships. As Stavrou noted, “Our goal is to create a region that is economically prosperous and a global model of stability and sustainability.”
A Vision for the Future
This partnership isn’t just about business—it’s about shaping the future of the Eastern Mediterranean. With a shared focus on innovation and development, the Trilateral Business Council aims to create a region defined by peace, prosperity, and collaboration.
For businesses looking to grow or expand in the region, this new council represents a unique chance to be part of a dynamic and thriving economic community. As Stavrou concluded, “Let’s seize this moment to build a future of success and unity in the Eastern Mediterranean.”
With information from CNA
