AmCham in Egypt, Greece, and Cyprus agree to promote trade with US

Daily News Egypt
4 Min Read

The American Chamber of Commerce (AmCham) offices in Cyprus and Egypt, and the American-Hellenic Chamber of Commerce in Greece, have signed a Memorandum of Understanding (MoU) for joint cooperation.

The MoU will promote the development of trade, investment, and business relations between their members and the US.

The signing ceremony was held on 21 October, with the presidents of the three respective chambers participating, alongside the Ambassadors of Cyprus, Greece and Egypt to the three countries. The US Chamber of Commerce, AmCham’s mother organisation, was represented by its Executive Vice President and Head of International Affairs, Myron Brilliant.

The MoU is set to create a framework for joint collaboration between the three AmCham organisations, given their common objectives in representing the interest of their respective business communities. It will also help realise the economic benefits that could be generated for the regions.

The three organisations will work together on regularly exchanging market information, business opportunities and economic delegations, to promote the interests of US and other member companies in their countries.

Additionally, support will be offered to members of each AmCham when visiting each other’s country for business purposes. Business representatives from the three countries will also receive assistance from the three countries in engaging in business and investment activities.

The three organisations will work on co-organising meetings, seminars, trade exhibitions, workshops and conferences in the region, and potentially in the US. This will aim to promote investment, trade, industrial cooperation, technology transfer, joint ventures, and business and economic cooperation in general.

They will also offer mutual assistance to identify suitable partners interested in investment, business and technical collaboration in relation to the implementation of business projects in each of the countries.

Brilliant said, “Today’s signing ceremony marks an important milestone in strengthening collaboration between the business communities in Egypt, Greece and Cyprus.”

He added, “Given the challenges posed by the pandemic, it is more important than ever for us to build economic bridges.”

“AmCham Cyprus is looking forward to working with the AmChams of Egypt and Greece, and generating value for their members, the economies and the citizens of the three countries,” said AmCham Cyprus President Haris Kakoullis.

He added, “AmCham Egypt is a firm believer in the value that this new partnership will bring to our members, with cooperation ranging from the regular exchange of market information, and sharing business opportunities, to economic delegations for promoting the interests of the American and other member companies in each of our countries.

AmCham Egypt President Sherif Kamel said, “As AmChams in the Eastern Mediterranean region, and leading business organisations each in our respective countries, we will work on fostering closer ties between our members, learning from each other’s experiences, and finding business opportunities between each other and with the United States-given our close working relationship with the US Chamber of Commerce.”, said.

President of the American-Hellenic Chamber of Commerce, Nikolaos Bakatselos, said, “This agreement is an additional step following the trilateral agreement signed by the governments of the three countries and symbolizes the role that economic and business cooperation between the countries can play to the stability, growth and prosperity of the SE Mediterranean for the benefit of the people in this region.”

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