Egyptian-Lebanese higher committee recommends enhancing economic cooperation
Lebanon-Egypt, Economics, 6/26/2001

The Egyptian-Lebanese Higher Committee reviewed at its meeting on Monday the resolutions endorsed during the fourth meeting of the committee, held in Beirut in last May.

The committee started its meetings earlier in the day under the co-chairmanship of Prime Minister Atef Ebeid and his Lebanese counterpart Rafik El-Hariri.

The committee recommended coordinating economic policies and exchange of expertise between the two countries as well as encouraging the private sector to own economic projects.

The conferees also agreed to exchange their experiencies and coordinate stances towards regional and international forums.

As regards economic and financial cooperation, the committee members decided to increase the volume of mutual investments and to form a technical committee to encourage investments under the sponsorship of Egypt's International Cooperation Ministry and Lebanon's Finance Ministry.

The two states as well agreed on unifying standardization rules in the two states in line with international criteria and providing necessary information and data on the exporters of industrial products.

In the field of electricity, the committee recommended giving preference to the Egyptian electricity companies to offer international tenders to implement electricity works in Lebanon as well as giving priority to Egyptian electricity companies in the bids offered by the Lebanese government, especially as regards the six-way power grid.

The committee members also discussed the exportation of Egyptian natural gas to Lebanon through the Arab natural gas pipeline. As a result, the Egyptian companies will take part in executing oil and gas projects in Lebanon.

The conferees studied other agreements on facilitating maritime and air transport between Cairo and Beirut, and on furthering cooperation in the fields of agriculture, tourism and health. The two sides pressed for the necessity of signing a memo of understanding in the field of medicine industry as soon as possible.

The Egyptian side to the committee voiced readiness to meet the Lebanese request to manufacture and export passenger and cargo train carriages.

As regards consular issues and the conditions of laborers, the committee highlighted the importance of legalizing the conditions of Egyptians illegally staying in Lebanon. They will be given a three-month period to settle their conditions and would be exempted from paying fines or given punishment sentences.

On Islamic affairs, the Lebanese side underlined the necessity of expediting the return of Al-Azhar El-Sharif mission to Lebanon as it was agreed during Hariri's visit to Cairo in November.

The Egyptian-Lebanese committee will wind up its meetings today by signing a number of protocols and agreements on joint cooperation.

Previous Stories:
  Memorandum on Lebanese- Egyptian gas pipeline   (12/15/2000)
  Egyptian support for the Lebanese stance   (5/17/2000)
  Lebanese- Egyptian electricity cooperation   (5/8/2000)

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