The American Chambers (AmChams) of Israel, Greece and Cyprus have issued a joint press release following the EastMed Act signed by President Donald Trump, pointing out the importance for the three countries and the security in the Eastern Mediterranean.
According to the press release sent to the media on Friday, the Eastern Mediterranean Security and Energy Partnership Act of 2019 “exhibits the historic metamorphosis in United States foreign policy in the Eastern Mediterranean, reflecting to a great extent the strategic view and principle that the security of partners and allies in the Eastern Mediterranean region is critical to the security of the United States and Europe”.
The three chambers state, inter alia, that through the Act, “the United States commits to continue robust official strategic engagement with Israel, Greece, and Cyprus and to actively participate in the trilateral dialogue on energy, maritime security, cybersecurity and protection of critical infrastructure conducted among the three countries”.
The United States further commits to continue to support diplomatic efforts with partners and allies to deepen energy security cooperation among Greece, Cyprus, and Israel and to encourage the private sector to make investments in energy infrastructure in the Eastern Mediterranean region, the press release reads.
AmCham Cyprus’ President, Haris Kakoullis said, according to the press release, that the law “recognizes the new realities in the Eastern Mediterranean basin, opens the door for substantial investment opportunities to the three countries, significantly reinforces their activities to have a presence in the global energy map and the prospective reductions in energy costs are expected to generate competitive advantage to their underlying economies”.
AmCham Israel’s CEO, Oded Rose said that they see great trade and economic potential in the Eastern Mediterranean and have signed the MOU with the sister chambers in Cyprus and Greece to enhance this partnership.
“The EastMed Act signed by President Trump bolsters our partnership into a strategic security-commercial axis”, he said.
Furthermore, the President of AmCham Greece Nikolaos Bakatselos stated that the EastMed Act “would further foster the already developed regional partnership of Greece, Israel and Cyprus and their relations with the US and will have great economic benefits for the three countries. Strengthening energy diversification and integration in the East Med, will increase energy security for Europe and promote peace and economic cooperation in the wider region”.