Lebanon-Egypt to remove custom duties between them

Lebanese Prime Minister Rafik Hariri informed yesterday his government about the outcome of current negotiations between Lebanon and Egypt to reach an agreement for trade exchange between the two countries.

After the weekly meeting of the Cabinet, Minister of Information Basem al-Sabaa said the council listened to the opinions of the trade, industry and agriculture minister concerning the trade agreement between Lebanon and Egypt. He also said the council agreed on a formula for the exchange of agricultural surpluses between the two countries.

Moreover the Cabinet agreed to gradually cancel custom duties between Lebanon and Egypt over a period of five years.