The American Chambers of Greece, Cyprus and Israel jointly welcomed on Friday the signing by US President Donald Trump of the EastMed Act, which they said “heralds a new era in the relations between the United States and Greece, Israel and Cyprus.”
In their joint statement, the chambers said that the Eastern Mediterranean Security and Energy Partnership Act of 2019, as it is known, shows the historic transformation of US policy in the East Mediterranean, reflecting the strategic position and principle that the security of partners and allies in the specific region is fundamental to the security of the United States and Europe.
Through the act, the US commits to maintaining is strategic commitment to Israel, Greece and Cyprus and taking an active part in the trilateral talks among the three countries on energy, safety at sea, cybersecurity and the protection of infrastructures of vital importance.
It also supports the expansion of the energy security relations with the three countries and encourage the private sector to invest in energy infrastructure in the East Mediterranean, the chambers said. They spoke of the possibility of founding a Joint US-EastMed Energy Center to draw on the experience and technical know-how of academic institutions and the private sector.
The act “recognizes the new realities in the East Med. basin, and opens the door to significant investment opportunities in all three countries,” American Chamber of Cyprus president Haris Kakoullis said.
AmCham Israel CEo Oded Rose said that the members of the chamber “represent nearly a third of the Israeli economy,” and spoke of great commercial and economic prospects in the East Med. The signed act, he underlined, strengthens this collaboration on a strategic axis of security and commerce.
AmCham Greece “hails the signing of the EastMed Act,” president Nikolaos Bakatselos said, adding that the energy differentiation and completion in the region will increase energy security in Europe and promote peace and economic collaboration in the greater region.