The Cairo Chamber of Commerce discussed avenues for new Egyptian-Libyan economic cooperation, in various commercial and investment sectors.
This discussion took place during a visit by a Libyan economic delegation, to the Cairo Chamber on Thursday.
The Libyan delegation met with Sherif Yehia, the Deputy Head of the Cairo Chamber, Major General Salah El-Abdamin, the Secretary of the Chamber, and Ashraf Helal, the Head of the Cairo Chamber’s Household Appliances Division.
The two sides discussed future cooperation, focusing on both investment and trade.
Yehia emphasised that the Cairo Chamber is “open to enhancing cooperation with Libya, particularly in the fields of mutual investment and trade. There is encouragement from the Egyptian political leadership to support Egyptian relations with all our brothers in different countries.”
He also stressed the importance of “studying the needs of the two markets, identifying files, and features, and working directly.” He affirmed the importance of having a “complete file that includes all the demands and proposals of the Libyan side to be presented to the Chamber’s board for further action.”
Moreover, Yehia also underlined the importance of full Egyptian-Libyan integration in various economic affairs.
Major General Salah El-Abda, the Director-General of the Libyan General Authority for Industrial Zones, inquired about the security situation regarding investments in Libya. “Any investor priorities the security aspect, and that’s why it is important to cooperate with our brothers in Libya for various activities,” he said.
On the other hand, Ashraf Helal inquired about the most significant facilities offered by the Libyan side to investors, in terms of taxes, customs, financing methods, and general advantages. The purpose is to study and determine future cooperation in various sectors.
Adel El-Masry El-Jaafari, the Director-General of the Libyan General Authority for Industrial Zones, highlighted that Libya has multiple industrial zones, offering advantages in terms of taxes, customs, financing, and raw materials for various activities.
He mentioned the strength of the purchasing power in Libya, which encourages Egyptian market entry, and that a complete file is being prepared. This will include all details about industrial zones, their locations, and their features.
El-Jaafari revealed that arrangements are being made for an international conference to inaugurate agreements with investors. Several major investment companies from different countries will participate.
