Lebanon - Egypt free trade area agreement ratified by parliament

The implementation of the executive program in support of trade exchange between Egypt and Lebanon is expected very soon after the Egyptian Parliament ratified the program on Monday night, being ratified on Thursday by the Lebanese Parliament.

The program includes provisions, the most important of which are to establish a free zone area as of the beginning of this year, and exempt commodities of Lebanese or Egyptian origins exchanged between the two states from all customs fees and relevant taxes.

The two states' ratification of the program in support of trade exchange coincides with great progress in the economic and trade relations between the two states. In this respect, a delegation comprising Egyptian businessmen, including the two friendship societies of the Egyptian-Lebanese businessmen and the investors of "October 6" concluded on Monday a weeklong visit to Lebanon during which they met with President Emile Lahoud, Parliament Speaker Nabih Berri and Prime Minister Salim al-Hoss who will arrive in Cairo on Saturday for a visit which will last for several days. Al-Hoss will be accompanied by a large economic delegation.