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The agreement on the delimitation of maritime zones between Egypt and Greece, which establishes an exclusive economic zone (EEZ) between the two countries, was ratified by Cairo on Saturday with a decree (No. 444/2020) issued by the President of Egypt. Abdel Fattah al Sisi.
The presidential decree was published in the official government newspaper on Saturday. The decree stipulates that in the event of the discovery of natural resources, including hydrocarbon reserves, that extend from the EEZ of one of the EEZ Parties to the other, the two Parties must work together to reach an agreement on how to exploit these resources.
On August 6, Foreign Minister Nikos Dendias and his Egyptian counterpart, Sameh Soukri, signed the agreement which, according to the Egyptian Foreign Minister, “aims to take advantage of the opportunities available in the eastern Mediterranean region.” Greece ratified the agreement with Egypt on August 27.
Source: ΑΠΕ-ΜΠΕ
