Greece and Turkey to Explore Talks on Maritime Zones Demarcation
In a significant development, Greece and Turkey have announced plans to investigate the possibility of initiating discussions on demarcating their maritime zones. This move holds crucial implications for the two neighboring countries, as it could determine their respective rights over potential gas reserves and energy infrastructure projects in the eastern Mediterranean region.
The longstanding tensions between Greece and Turkey, stemming from a variety of issues including airspace and maritime jurisdiction, have shown signs of easing in recent times. Both nations have expressed a willingness to improve their relations and address the issues that have divided them for years.
Following a meeting between Greek Prime Minister Kyriakos Mitsotakis and Turkish President Tayyip Erdogan at the United Nations General Assembly, the leaders have instructed their foreign ministers to explore the feasibility of starting discussions on the demarcation of the continental shelf and exclusive economic zone. Preparations are now underway for a high-level meeting scheduled to take place in Ankara in January.
This potential breakthrough in Greek-Turkish relations has the potential to not only enhance regional stability but also create new opportunities for economic cooperation and development. Investors and financial markets will be closely monitoring these developments, as any progress in resolving the longstanding disputes between the two countries could have a positive impact on the geopolitical landscape and investment opportunities in the region.