THE EASTMED - NEW YORK INVESTMENT SUMMIT



 

                                                                                 May 10th 2019

Press Release
THE EASTMED-NEW YORK INVESTMENT SUMMIT
Cyprus-Greece-Israel: Strengthening ties
Thursday, May 2nd 2019, Lotte New York Palace, New York

Key points:

Harris Georgiades, Minister of finance, Cyprus

After many years that the Eastern Mediterranean had been linked to instability, a new perspective now emerges, which is being strengthened year by year and has the potential to transform the region. This assessment was made by the Cypriot Finance Minister Harris Georgiadis, who sent a message to potential investors to take a careful look at the region and see the advantages.

He also referred to the opportunities created by the developments in the field of energy, where he noted that Cyprus is taking steady steps, with confidence. As he said, the door is also open to Turkey in order to participate in this network of collaboration, through the solution of the Cyprus issue and the improvement of the relations with the West.


George Koumoutsakos, MP and shadow minister of foreign affairs, New Democracy, Greece
The Eastern Mediterranean region assumes a critical role as far as international stability, security and economic growth are concerned, according to MP and shadow minister of foreign affairs of New Democracy, Greece, George Koumoutsakos. Within this context, he emphasised that the energy sector (as he said, not only gas but also renewable energy sources) is the key factor.

Inon Elroy, Economic minister to North America, Government of Israel Economic Mission in New York
Today, if you are interested in innovation and you are not in Israel, you may be missing out, according to Inon Elroy, Economic minister to North America of the Government of Israel Economic Mission in New York. Mr Elroy also noted that 350 global businesses are active in the R&D sector in his country.

 

Francis Fannon, Assistant secretary, Bureau of Energy Resources (ENR), US Department of State
The US recognizes the right of the Republic of Cyprus to develop its resources in its EEZ and strongly discourages any actions that could escalate tension in the region, said
Francis Fannon, Assistant secretary of the Bureau of Energy Resources (ENR), US Department of State. He encouraged the countries of the eastern Mediterranean to provide as much information as possible regarding their investment environment to US companies, which have –according to Mr Fannon– huge potential in technology and know-how. Mr Fannon also underlined the critical role of energy for business, growth and progress, stressing that it is a high priority for the USA.


Yiorgos Lakkotrypis, Μinister of energy, commerce and industry, Cyprus
The strategic objective of creating an energy corridor from the eastern Mediterranean to the centre of Europe was highlighted by the Cypriot minister of energy, commerce and Industry
Georgios Lakkotrypis during the recently held Economist event in New York. That is why our countries are coming together, providing confidence to businesses to invest, the minister said.

Don Bagley, Vice-president, exploration and new ventures, Europe, Russia, Caspian, MENA, ExxonMobil Upstream Business Development
The story of the Eastern Mediterranean has not yet finished as far as the energy prospects are concerned, according to
Don Bagley, Vice-president, exploration and new ventures, Europe, Russia, Caspian, MENA of ExxonMobil Upstream Business Development, who underlined that more exploration needs to be done before the final quantities of reserves are identified. Mr Bagley noted that a stable business environment is important for investors and encouraged the countries concerned to maintain the positive momentum.

Yannis Bassias, President and chief executive officer, Hellenic Hydrocarbon Resources Management
There is a possibility that additional important reserves will be identified in the region of Greece and the technology that will be developed in the coming years will allow us to penetrate in deep waters that are likely to unveil new opportunities, Yannis Bassias, president and chief executive officer of the Hellenic Hydrocarbon Resources Management noted during his speech at the recently held Economist event in New York.

John Negroponte, Former US deputy secretary of state
The United States, as a society and as a government, encourages and supports the reinforced co-operation among the democracies of the eastern Mediterranean. It is a new geopolitical development that is very important, as the former US deputy secretary of state John Negroponte noted during a speech delivered at the recently held Eastmed-New York Investment Summit.

Elena Duggar, Chair of Moody’s Macroeconomic Board, associate managing director, credit strategy & research, Moody’s Investors Service
“The economic outlook for Cyprus, Greece and Israel remains relatively robust”, as Elena Duggar, Chair of Moody’s Macroeconomic Board, associate managing director of credit strategy & research at Moody’s Investors Service stressed during her speech at the recently held Economist event in New York.

As far as Brexit is concerned, Ms Duggar said: “Our base case continues to be that the UK and the EU will reach an agreement to preserve many – but not all – of their current trading arrangements. However, the risk of a second referendum or a no-deal Brexit has risen”.


David Harris, Chief executive officer, American Jewish Committee (AJC)
By realizing that there is a need of an alternative strategy towards Turkey, who cannot be the only US ally in the region, we have a major shift in the eastern Mediterranean, said David Harris, Chief executive officer of the American Jewish Committee (AJC), who addressed the audience of the recently held Economist event in New York.
Mr Harris predicted that Greece, Cyprus and Israel would become anchors of the international community in the eastern Mediterranean, along with some Arab countries, such as Egypt, Jordan and perhaps Lebanon. The risks? "Turkey, Iran, Russia", according to Mr. Harris.

Andreas Yiasemides, Vice-chairman of the BoD, Cyprus Investment Funds Association (CIFA),
partner, in charge of fund services, PwC Cyprus
“Cyprus Investment Funds have been a platform for attracting FDI in all sectors of the Cyprus economy, proven by the fact that Investment funds have been investing in all kind of sectors in the Cyprus market” according to Andreas Yiasemides, Vice-chairman of the BoD of the Cyprus Investment Funds Association (CIFA) and partner, in charge of fund services of PwC Cyprus, who was one of the keynote speakers of the recently organized event in New York.

www.hazliseconomist.com  / www.NYinvestmentsummit.economist.com  

Platinum sponsors: BANK OF CYPRUS, PwC Cyprus
Gold sponsor: Henley & Partners
Supporting organisations: Invest Cyprus, Cyprus Embassy Trade Center, New York
Contributors: Cyprus-US Chamber of Commerce, Hellenic Hydrocarbon Resources Management

 




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