No Result
View All Result
Monday, January 30, 2023
13 °c
Tripoli
13 ° Tue
14 ° Wed
14 ° Thu
14 ° Fri
  • Advertising
  • Contact
LibyaHerald
 
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Business

Libyan-Egyptian chambers trade pact to aid Libya’s reconstruction

bySami Zaptia
January 4, 2021
Reading Time: 2 mins read
A A
Libyan-Egyptian chambers trade pact to aid Libya’s reconstruction

Libya and Egypt have signed a protocol to increase reconstruction raw materials trade (Photo: Libya-Egypt).

12
SHARES
53
VIEWS
Share on FacebookShare on Twitter

By Sami Zaptia.

Libya and Egypt have signed a protocol to increase reconstruction raw materials trade (Photo: Libya-Egypt).
The Joint Libyan-Egyptian Economic Chamber and the Egyptian Raw Materials Manufacturing Association have signed a protocol to increase reconstruction raw materials trade (Photo: Libya-Egypt).

London, 8 February 2019:

Egypt’s Raw Materials Manufacturing Association and the Joint Libyan Egyptian Economic Chamber signed a co-operation protocol on Monday to increase bilateral trade and investments.

The protocol was signed for the Egyptian side by Ahmed Abdulhamid, chairman of the Egyptian Raw Materials Manufacturing Association and for Libya by Hani Safrakis, president of the Libyan Egyptian Joint Economic Chamber in the presence of a number of other Libyan and Egyptian dignatories, including Mohammed Raied president of Libya’s General Union of Chambers of Commerce.

The protocol hopes to integrate and create a complementarity between the Egyptian and Libyan private sectors in the reconstruction process of Libya.

RELATED POSTS

Aldabaiba proposes new Road Map for holding elections, loans and land for youth and money for healthcare for war wounded

Cooperation agreements reached between Libyan and the Greek pharmaceutical and medical companies: Tripoli Chamber of Commerce

Building on its historic, cultural and logistic ties, and its price competitive advantage, Egypt hopes to secure the lion’s share of Libya’s reconstruction raw materials and labour needs.

Egypt has a huge raw materials manufacturing sector and wants to position itself as a major regional player in MENA reconstruction efforts.

The protocol also aims to offer training and exchange of know-how and experience with Libyan companies.

Speaking at the signing ceremony, Mohamed Raied, president of Libya’s General Union of Chambers of Commerce stressed the need for the normalisation of relations between the two countries by providing facilities to business leaders in both countries and facilitating the movement and entry of Egyptian labour into Libya.

He added that the Libyan market needs reconstruction and is a promising market in dire need of Egyptian industry and its products, especially building materials and supplies,

He complained about the fact that there were only two direct flights a week from Libya to Egypt, and only to Alexandria, compared to many more to Tunis and Istanbul.

The head of the Joint Libyan-Egyptian Economic Chamber, Hani Safrakis, said that the reconstruction cost of Libya is estimated by the Workd Bank at about US$ 100 billion, adding that the Libyan government’s initial estimate of the number of workers Libya requires  exceeds 3 million Egyptian workers.

He said that the Tripoli-based government had made allocations for development in both its 2018 and 2019 budgets.

These budgets represents a new opportunity and prospects for the Egyptian building materials and accessories sectors, he added.

Safrakis said that Libyan-Egyptian trade had decreased from US$ 1.5 bn in 2013 to US$ 0.5 bn in 2017.

He stressed the importance of re-evaluating Libyan security, taking into account economic benefits and common interests without security conditions so as not to harm common interests, especially Egyptian manufacturing.

He also called for the amendment of the trade agreement signed between Egypt and Libya in 1991 and and that it should be re-activated and reformulated to cope with the new trade realities and common interests.

He also called for the activation of the Salloum Logistics area during the coming period to activate trade movement and economic relations between the two countries.

 

Tags: featuredLibya Egypt traderaw materialsreconstruction
Share5Tweet3Share1

Related Posts

Aldabaiba praises activation of seven domestic airports and start of work on Tripoli International Airport’s terminal
Business

Aldabaiba praises activation of seven domestic airports and start of work on Tripoli International Airport’s terminal

January 30, 2023
Medsky Airways adds a second Airbus 320 to its fleet
Business

Medsky flies first Berlin to Misrata flight

January 30, 2023
New Eni gas deal with Libya rejected by current Oil Minister and Bashagha
Business

New Eni gas deal with Libya rejected by current Oil Minister and Bashagha

January 30, 2023
Eni signs US$ 8 billion EPSA gas development deal with Libya
Business

Eni signs US$ 8 billion EPSA gas development deal with Libya

January 29, 2023
LBBC leads delegation to Tripoli of 30 business representatives
Business

LBBC announces a wide range of business activities for 2023 – including a visit to Benghazi

January 29, 2023
Libyan Petroleum Institute workshop on ‘‘Chemical Additives in Oilfields’’ on 31 January, Tripoli
Business

Libyan Petroleum Institute workshop on ‘‘Chemical Additives in Oilfields’’ on 31 January, Tripoli

January 29, 2023
Next Post
U.S. NGO returns to perform more free children’s heart operations in Tobruk, but Tripoli fails to pay basic costs

U.S. NGO returns to perform more free children's heart operations in Tobruk, but Tripoli fails to pay basic costs

NOC urges resraint and maintains force majeure at Sharara

 

Advertise on LibyaHerald

Reach thousands of our site visitors daily

240 x 400px

Advertise Here
ADVERTISEMENT

Top Stories

  • Medsky Airways adds a second Airbus 320 to its fleet

    Medsky to start flights from Tripoli to Malta

    113 shares
    Share 47 Tweet 28
  • New Eni gas deal with Libya rejected by current Oil Minister and Bashagha

    73 shares
    Share 29 Tweet 18
  • Libyan Iron and Steel (LISCO) exports to 38 countries – 136,000 tons to be exported in coming months

    68 shares
    Share 33 Tweet 15
  • Libya aims to consolidate and leverage its ICT services for export

    53 shares
    Share 21 Tweet 13
  • National Oil Corporation seeks to restart Ras Lanuf complex at full capacity

    52 shares
    Share 21 Tweet 13
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

Aldabaiba praises activation of seven domestic airports and start of work on Tripoli International Airport’s terminal

Libya must take decisive steps to address serious rights violations: UN Fact-Finding Mission on Libya

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    No Result
    View All Result
    • Login
    • Sign Up
    • Cart
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Sign In with Facebook
    Sign In with Linked In
    OR

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Sign Up with Facebook
    Sign Up with Linked In
    OR

    Fill the forms bellow to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
    Are you sure want to unlock this post?
    Unlock left : 0
    Are you sure want to cancel subscription?