Egypt-Libya to promote trade cooperation
Libya-Egypt, Politics, 5/9/2001

Meetings of the joint Egyptian -Libyan higher committee started late Tuesday under Egyptian Prime Minister Atef Ebeid and Secretary General of the People's Committee Mubarak Abdullah AL Shamikh.

The meetings will witness the signing of agreements, programs and protocols on promoting bilateral cooperation in the fields of agriculture, industry, transport, health, construction, electricity, media, culture, petroleum and natural.

The committee will also discuss boosting trade exchange, the conditions of Egyptian workers in Libya and means of furthering bilateral technical cooperation.

Chief of the joint Egyptian -Libyan Chamber of Economy Mohammad Abdul Enien said that a joint company would be set up to market the two countries' products.

The preparatory committee has concluded two-day meetings Monday on details of agreements and programmes to be signed by both parties.

During the meeting, the preparatory committee discussed contribution, by Libyans, in the cultivation of lands in the Egyptian mammoth Toshka project and other joint ventures.

"The seventh session of the higher committee meetings will help promote ties in all domains," said Egyptian ambassador Hany khallaf.

He put at $ 116 million the volume of trade exchange between Egypt and Libya.

"The two sides are seeking to up their trade exchange volume to $500 million in 2005," said the Egyptian ambassador.

He added that new Egyptian exports have accessed the Libyan market, foremost important are software programs, communication methods and transportation means.

Sources in the Egyptian businessmen delegation said that there are much potential for economic integration between the two countries. They added that there are proposals to set up a joint custom zone.

The establishment of specialized marketing companies will be mulled over during the meetings as well as the exchange of annual fairs for Egyptian and Libyan projects, the sources added.

Libyan investments in Egypt are estimated at s 5 billion not to mention investments by the private sector in the tourism industry and agriculture domains, said sources in the Egyptian businessmen delegation.

They added that there are studies for setting up an Egyptian -Libyan bank to fund trade and investment and it will be assigned with the marketing of Egyptian and Libyan products.

Some 26 agreements and cooperation protocols were signed during the previous six sessions of the joint committee meeting since 1991.

Shamikh welcomed Ebeid and his accompanying delegation. He lauded Egyptian support to Libyan stances, especially in the' Lockerbie issue, as well as its demand for a lift of sanctions imposed on Libya.

He called for closing Arab ranks in the face of globe challenges, promoting Arab-African cooperation and establishing the Arab Common Market.

"Libya is deeply concerned over the Israeli genocide against the Palestinians and the use of all weapons in killing them," said Shamikh.

He demanded a firm Arab stance in support of the establishment of a Palestinian State with Al Quds (Jerusalem) as capital.

On his part, Ebeid lauded the good relations between the Egyptian and Libyan peoples, being boosted by constant contacts between the two Leaderships.

Previous Stories:
  Egypt, Libya plan to activate economic agreements and protocols   (5/7/2001)
  Mubarak - Gaddafi talks cover Palestinian issue, African Union Institutions   (4/14/2001)
  Mubarak, Gaddafi hold plenary meeting   (4/12/2001)

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