Cyprus Commerce Minister pays official visit to Egypt

Cyprus Minister of Commerce, Industry and Tourism Antonis Michaelides paid an official visit to Egypt during which he discussed with the Minister of Petroleum of Egypt Sameh Fahmy issues concerning the research for oil reserves in the exclusive economic zones of the two countries, in the framework of agreements signed between the two countries, and Cyprus’ supply with natural gas from Egypt.
An official press release said that the Egyptian Minister accepted an invitation by Michaelides to visit Cyprus on 15 February 2007, during which tenders procedure for research and exploitation of hydrocarbon deposits to Cyprus’ exclusive economic zone is expected to begin.
The Cypriot Minister also had meetings with state companies dealing with natural gas, with a view to explore the potentials of Cyprus getting supplies of natural gas from Egypt.
Michaelides also had a meeting with the Egyptian Minister of Foreign Trade and Industry Rasheed Mohamed Rasheed during which they reviewed commercial exchanges between the two countries and discussed ways of developing the commercial and financial relations between Cyprus and Egypt, such as common investments, cooperation in the fields of research and technology as well as cooperation in the framework of Euro-Mediterranean programmes. Michaelides invited Rasheed to visit Cyprus in 2007.
He also met with the Egyptian Minister of Tourism Zolieir Garranah and the President of the Egyptian Tourism Authority Ahmed El Khadam.
They discussed and decided further steps as regards the cooperation of the two countries, with a view to attract tourists from far away countries.
They also discussed about the further promotion of tourist visits between Cyprus and Egypt
Five agreements were signed last May, during an official visit of Cyprus President Tassos Papadopoulos to Egypt, between Cyprus and Egypt on research and the co-exploitation of hydrocarbon deposits in the line between the exclusive economic zones of the two countries.