The Limassol Chamber of Commerce and Industry and the Egyptian Commercial Chamber of Ismailia Governorate are to step up bilateral ties, in line with a cooperation protocol concluded and signed by the two sides.

The agreement was signed by the Presidents of the two Chambers, Costas Galatariotis of Limassol and Akram Hussein Elshafei of Ismailia, and provides, inter alia, for the organisation of joint events, and the exchange of trade delegations and know-how in areas of common interest.

The two sides are also opening a channel of communication for the exchange of information on all issues pertinent to business activity and will facilitate business matchings between entrepreneurs from the two port cities. Moreover, Limassol and Ismailia will exchange business bulletins as well as research-based and other studies and statistical information that could be of use to enterprises in both cities.

Bilateral cooperation will also entail joint training programs as well as joint action in several areas, aiming to extend optimum support to entrepreneurship in Ismailia and Limassol.

The agreement between the two Chambers was signed in the presence of the Ambassador and the Commercial Attaché of the Egyptian Embassy in Cyprus, the Vice President of the Federation of Egyptian Chambers of Commerce and the Director of the Commerce Department at the Cyprus Ministry of Energy, Commerce, Industry and Tourism.

The port of Ismailia, a city of 750.000 inhabitants, has gained significantly in importance in the wake of the recent upgrading/expansion of the Suez Canal. Moreover, the headquarters of the Suez Canal authority are in Ismailia, a city that was established in the wake of the opening of the Suez Canal in the 1860s.