The Egyptian Minister of Trade and Industry, Nevin Jameh revealed that the Libyan market was one of the largest for Egyptian exports in 2021. It ranked 9th globally, with exports worth $938 million, compared to $570 million in 2020, achieving an increase of 64.5%.
This came during her meeting with her Libyan counterpart, Salama Al-Ghwail in Cairo. The two discussed way to boost joint trade and investments in the coming period. “Egypt is keen on strengthening mutual cooperation with Libya in various fields, building on the deep-rooted ties between the two countries,” Jameh said.
The minister added that there is currently close cooperation between Egypt and Libya in the manufacturing sector.
On his part, Al-Ghwail affirmed his keenness to strengthen joint economic cooperation, and confirmed the Libyan government’s hope to benefit from the “successful Egyptian economic experience. Especially in the industrial sector, promotion of foreign trade, and development of the investment sector.”
Spokesman for the Egyptian Ministry of Electricity and Renewable Energy, Ayman Hamza revealed a proposal to raise the voltage of the electric line with Libya from 220 to 500 kilovolts. This is so that the exchange capacity would be increased to 2,000 megawatts.
In statements to ‘Youm 7’, Hamza added that 100 megawatts are currently being transferred at a voltage of 220 kilovolts on the current interconnection line. The capacity was raised in January of 2020 to 150 megawatts.
He explained that the total capacity of the electrical interconnection projects implemented by Egypt during the coming period is approximately 9,000 megawatts. He pointed out that Cairo plans to implement electrical interconnection projects in all directions, including the east, west, north and south. These projects are receiving great attention from the state, in order to benefit from the daily reserve of the network.