Due to the strong cultural and historical ties between the two nations, from ancient to modern times, especially since the creation of the city of Alexandria by the Macedonian king Alexander the Great, on the Eastern Mediterranean Sea's coast and the rich heritage further strengthened the bonds between the two nations, in addition to the Ptolemaic dynasty which ruled Egypt for 275 years, Egypt and Greece today enjoy warm diplomatic relations and consider each other on friendly terms.

During the rise of Pan-Arab nationalism and the subsequent nationalisation of many industries in 1961 and 1963 by Gamal Abdel Nasser, most of the Greek community emigrated from Egypt for other countries, such as the United States, Canada, South Africa and Australia.

[citation needed] Relations now are described as strategic[5] and are developing on all fronts, with several trade, tourism, economic and defense cooperation agreements signed by the governments and heads of states in their regular meetings.

[10] Egyptian President Abdel Fattah el-Sisi, Cypriot President Nicos Anastasiades, and Greek Prime Minister Antonis Samaras held a tripartite summit in Cairo at 8 November 2014, where the leaders of the three countries tackled the ongoing issues in the region of Middle East and the East Mediterranean Sea, and the three heads of governments agreed to intensify the cooperation between the three countries in economy, security, tourism and energy, as well as defining the common maritime borders and the EEZ in the Mediterranean Sea.

El-Sisi, Anastasiades and Samaras agreed to further encourage the foreign investments to the Egyptian economy and infrastructure, which suffered by the uprisings of Arab Spring, and to participate in the 2015 Cairo Economic Conference.

The main reason for the countries' decision to sign the agreement was to cancel the internationally and heavily criticized Libya (GNA)–Turkey maritime deal but to also ease tensions in the Eastern Medditerenean.