The chambers of commerce from Cyprus, Greece, and Egypt signed a Memorandum of Understanding (MoU) on Wednesday in Cairo, establishing a Trilateral Business Council to promote economic cooperation. The agreement was formalized during the Trilateral Business Conference held in the Egyptian capital.

The MoU was signed by Ahmed El Wakil, Chairman of the Federation of Egyptian Chambers of Commerce (FEDCOC), Ioannis Masoutis, President of the Union of Hellenic Chambers of Commerce (UHCC), and Stavros Stavrou, President of the Cyprus Chamber of Commerce and Industry (CCCI).

The agreement outlines the creation of the Trilateral Business Council, which will facilitate:

• Business information sharing, matchmaking, and awareness activities.

• Sectoral and general delegations, fairs, and exhibitions.

• Logistic support and the provision of physical space and technical facilities for collaboration.

Valid for three years, the MoU will automatically renew unless terminated with three months' notice before its expiration. The agreement reflects the long-standing relations between the three nations and aims to deepen technical and economic cooperation across all sectors.

In his address, Stavros Stavrou emphasized the potential for Cyprus, Greece, and Egypt to lead in energy security and sustainable energy solutions in the Eastern Mediterranean. Highlighting Egypt’s access to over three billion consumers through its extensive trade agreements and €22 billion in grants and soft loans for businesses, Stavrou described the region as uniquely positioned to become a global energy hub.

He encouraged leveraging collective expertise to foster cooperation in sectors such as technology, infrastructure, tourism, and business development.

Stavrou expressed the CCCI’s readiness to support trilateral collaboration, ensuring that ideas and connections from the conference translate into tangible outcomes. He stressed the importance of creating a region defined by economic prosperity, peace, and innovation.

“Our region can transform into a bridge of security, peace, and dynamic economic development,” he said, adding that the Cyprus Chamber is prepared to contribute to intergovernmental cooperation for the promotion of stability and prosperity in the Eastern Mediterranean.

Stavrou concluded by urging all stakeholders to seize this opportunity to build a future characterized by innovation and investment, emphasizing that decisions made today will shape the future of the region for generations to come.