Executive agreements to be implemented

Egyptian Minister of Information Safwat Al-Sherif set the number of agreements signed by Libya and Egypt so far at 23.

In statements to MENA on the sidelines of the meetings of the Egyptian -Libyan joint committee, Sherif stressed the importance to put these agreements into force.

"The peoples of the two countries need to see these agreements activated to benefit from their yield," said Sharif.

"On directives from President Hosni Mubarak and Libyan leader Muammar Gaddafi, a joint company has been established with a capital of $ 500 million," said El Sherif.

The current meetings of the committee have many missions ahead to be carried out mainly elimination of all obstacles to smooth trade exchange, boost agricultural, industrial and productive integration and cooperation in the fields of transport, communications and railways, added Sherif.

He recalled a number of the signed agreements such as freedom of trans-borders movement and residence, freedom of ownership, encouraging and securing investments, maritime transport, passengers and commodities transport and regulating air transport.

"A number of agreements will also be signed during the ongoing meetings," said Sharif, adding that they are almost executive ones.

Meantime, Egyptian businessmen held a meeting with their Libyan counterparts on investment opportunities and setting up joint ventures, said head of the Egyptian -Libyan Chamber of Commerce.

Mohammed Abul Ainein said the meeting dealt with all problems that hindered the increase of trade exchange between them over the past period.

"Among the proposals floated at the meeting was setting up a joint customs point to conclude all customs procedures at one place," Abu Ainein said.

The two sides also agreed to set up joint projects in the fields of cement and medicine, he added.