Written statement by the Government Spokesman Mr N.
Christodoulides
on the ratification of a framework agreement between
Egypt and Cyprus
The Government welcomes with satisfaction the signing by
the President of Egypt, Mr. Abdel Fattah al-Sisi, of the Presidential Decree
which ratifies the framework agreement between the governments of Cyprus and
Egypt regarding the development of hydrocarbon resources that stretch from the
one side of the Median Line to the other.
The said agreement was signed in Cairo on 12 December
during the visit to Egypt by the President of the Republic, Mr. Nicos
Anastasiades.
The agreement will enter into force once a Verbal Note,
which notifies about the ratification by Egypt, is received.
This is a highly important agreement, which is based on
and affirms the 2003 Agreement for the Delineation of the Exclusive Economic
Zone between the two countries.
The Agreement defines the framework and the rules of
cooperation between the two countries with regard to the development and joint
exploitation of hydrocarbon reserves that are possibly intersected by the joint
boundary of the EEZ of the two countries.
