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The EastMed Act is praised by the American Chambers of Israel, Greece and Cyprus

Following the EastMed Act signed by US President Donald Trump, the American Chambers of Israel, Greece and Cyprus have issued a joint statement highlighting the importance of the bill for the three countries and the security in the Eastern Mediterranean.

According to the statement, 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”.

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 statement continued.

The act also lifts a decades long embargo on Cyprus. American Chamber of Commerce in Cyprus President, Haris Kakoullis stated that the law “recognises 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.”

President of the American-Hellenic Chamber of Commerce, Nikolaos Bakatselos highlighted 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.”

Israel-America Chamber of Commerce CEO Oded Rose noted that they see “great trade and economic potential in the Eastern Mediterranean and have signed the MOU with our 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.”

 

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