Egyptian Foreign Minister Sameh Shoukry (R) and his visiting Greek counterpart Nikos Dendias sign an agreement in Cairo, Egypt, on Aug. 6, 2020. (STR/Xinhua)
Egypt and Greece sign maritime demarcation deal that allows both sides to maximize use of available resources in the exclusive economic zone.
CAIRO, Aug. 6 (Xinhua) -- Egyptian and Greek foreign ministers signed here on Thursday an agreement on the demarcation of the maritime borders between the two countries and setting up an exclusive economic zone between them in the Mediterranean Sea.
The deal allows both Egypt and Greece to maximize the use of available resources in the exclusive economic zone between them, particularly the potential oil and gas reserves, Egyptian Foreign Minister Sameh Shoukry said in a joint press conference with his visiting Greek counterpart Nikos Dendias.
"All the items of the agreement comply with the rules of international law and the UN Convention on the Law of the Sea," Shoukry added.
He continued that the agreement opens horizons for further energy cooperation between Egypt and Greece, which are both members of East Mediterranean Gas Forum.
Shoukry stressed that the deal was reached after a series of negotiations between the two states over the past few years and it reflects "the ties of historical friendship and growing partnership between Egypt and Greece."
For his part, Dendias described the event as "a historical day," emphasizing that the deal respects all relevant international laws as well as the maritime rights of neighboring states.
"The deal marks a new stage for further and closer relations between Greece and Egypt," Dendias told reporters at the news conference.
He added that the maritime demarcation deal between Greece and Egypt would contribute to the stability of the East Mediterranean region.