Egyptian Energy Minister to Visit Cyprus for Oil Cooperation
Egyptian Electricity and Energy Minister Ali Al Saeedi is due to visit Cyprus in late July to discuss the tapping of oil and gas reserves off the eastern Mediterranean coast, reported the weekly Middle East Times.
Saeedi will hold talks with Cypriot Minister of Commerce, Industry and Tourism Nikos Rolandis.
Bilateral trade between Cyprus and Egypt currently stands at approximately $70 million annually, said the weekly.
The two countries have recently signed a trade protocol in Nicosia to improve commercial relations and increase investments.
It is believed that there are large reserves of natural gas located off Cyprus' coast in an area between Egypt, Syria, Cyprus, and Israel, said the weekly – Albawaba.com
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