Regular monthly meetings; Egypt and Libya get serious about economic development and trade

Egyptian Prime Minister Atef Ebeid said an agreement was reached during the eighth session of the joint higher Egyptian - Libyan committee on holding regular monthly meetings between the Egyptian and Libyan Ministers on ways of implementing the agreements reached during the meetings of the higher committee.

He referred to the agreement reached with Imbarak A1 Shamekh, on inevitability of the joint action for developing trade between the two states.

This came during the joint meeting of the Egyptian and Libyan businessmen which was organized by the Egyptian Libyan economic chamber under Mohamed Abul Enain.

Ebeid said the two sides agreed on eliminating barriers in the framework of a specific timetable.

Imbarak A1 Shamekh said that the Libyan non governmental sector has become one of the main pillars of Libyan national economy adding Libya has recently taken measures for unifying exchange rate, eliminating commercial restrictions and expanding non governmental sector role in the upcoming stage.

He said that an agreement was reached on convening periodical meetings among corresponding ministers for laying down the basis of economic integration between the two states.

He said the agreements signed by both states need to be reviewed to cope with the concept of modern economy and world trade system.