Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Greek Investments in Egypt Hit $2 Bln

Tue 08 Oct 2019 | 07:13 PM
Taarek Refaat

The vice president of the Egyptian-Greek Business Council Medhat Stefanos said the volume of Greek investments in the Egyptian market exceeded $ 2 billion by the end of 2018.

Stefanos said on Tuesday that Greek investments in Egypt are concentrated in several sectors, most notably food industries, cement, finance, industry, services, construction, tourism, agriculture, telecommunications and information technology.

He stressed that the mutual visit and the joint summits between the Egyptian and Greek sides aim to strengthen the strategic partnership and increase cooperation between the two countries, especially in light of the strong political relations between them.

In the meantime, Greek Prime Minister Kyriakos Mitsotakis arrived in Cairo on Tuesday morning for a the tripartite summit, which will take place between Greece, Egypt and Cyprus.

[caption id="attachment_83823" align="aligncenter" width="1024"] The tripartite summit chaired by President Sisi[/caption]

According to the Greek site  Ekathimerini, an agreement will be signed on investment cooperation between the three countries, emphasizing the importance of cooperation as a cornerstone of stability in the eastern Mediterranean.

It is noteworthy that President Abdel Fattah El Sisi chaired the tripartite summit to discuss joint cooperation and the situation in the territorial waters of the Eastern Mediterranean.

On May 2002, the Council establishment Agreement was signed in Cairo, while The reestablishment took place in Greece in June 2013, with the presence of the Greek Minister of Foreign Affairs.