Lebanon and Egypt sign agreement establishing free trade zone

Egyptian Minister of Trade Ahmed El-Goweili said that the meetings of the high ministerial committee between Egypt and Lebanon, which will begin its work on Wednesday in Cairo chaired by the Egyptian and Lebanese prime ministers, will sign its agreement to establish a free trade zone between the two countries after the technical committees finish examining its items.

Lebanese Prime Minister Rafik Hariri will make a one-day official visit to Egypt tomorrow to head the Lebanese delegation to the meetings.

Goweili added that Lebanon wants to export Lebanese apples to the Egyptian markets within the goods exempted from customs, while the Egyptian side wants to export some agricultural goods, such as the sweet potato, to Lebanese markets within customs exemptions.

Goweili said that last year Egyptian exports to Lebanon were worth nearly $159.7 million and its imports were worth $59,4 million. Egyptian exports to Lebanon included sweet potatoes, onions, rice, and iron rails. Its imports included apples, books, metal mixers and prints.