Costis Stambolis
The signing on Thursday in Cairo of an agreement between the Egyptian and the Greek governments for the delineation of a segment of their sea boundaries, paves the way for a broader understanding which will enable the two countries to reach a comprehensive agreement to define their respective Exclusive Economic Zones (EEZ).
Diplomatic sources in Athens told the Financial Mirror that the agreement reached between Cairo and Athens is only the beginning of a much longer process which will see the two countries submit their case to international arbitration and seek judgment from either the International Maritime Tribunal in Hamburg or the International Court in the Hague.
Egypt and Greece signed the agreement designating an exclusive economic zone in the eastern Mediterranean between the two countries, an area containing promising oil and gas reserves, Egyptian Foreign Minister Sameh Shoukry said at a joint press conference with his Greek counterpart Nikos Dendias in Cairo.
