Egypt, Greece sign economic zone pact

Egypt and Greece signed an agreement on Thursday 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.

Shoukry made the announcement at a joint press conference with his Greek counterpart Nikos Dendi-as in Cairo.

“This agreement allows both countries to move forward in max-imizing the utilization of the resources available in the exclusive economic zone, especially promising oil and gas reserves,” Shoukry said.