Mohamed El-Bahi, head of the Arab Cooperation Committee at the Federation of Egyptian Industries, announced preparations for a significant trade and investment mission to Libya by the end of June. This initiative aims to expand Egyptian presence in Libya through exports and participation in reconstruction efforts.
El-Bahi stated in a press release that the mission’s goal is to strengthen Egyptian engagement in Libya. This includes increasing exports and facilitating national companies’ involvement in rebuilding the country.
Thirteen industrial and export sectors are expected to participate in this mission, which is part of a series of international market visits planned by the Egyptian Industries Union to boost exports and enhance joint Arab investments.
Regarding the number of participants, El-Bahi mentioned that 150 companies, institutions, and individuals have applied to join the mission to Libya. All applications are being thoroughly reviewed to ensure proper preparation of the delegation.
El-Bahi highlighted the mission’s objectives, which include direct meetings between Egyptian companies and their Libyan counterparts. These meetings aim to finalise export contracts and explore joint investment opportunities in both Libya and Egypt.
He also noted that discussions will focus on contributing to the reconstruction of southern Libya, particularly by real estate developers, and meeting the region’s demand for Egyptian building materials. These aspects will be key points of discussion during the mission’s activities.
This initiative underscores Egypt’s commitment to supporting Libya’s reconstruction and fostering economic ties between the two nations. By enhancing trade and investment relations, both countries aim to achieve mutual growth and stability.
Last month, the Managing Director of Egypt’s Aqua Flow for Pipes Manufacturing Company, Hisham Madkor Abo El-Ezz, stated the copmany aims to capitalize on reconstruction efforts by contracting to supply the country’s infrastructure needs.
He told “Al-Borsa news” that the company plans to increase its exports to Libya to $1.5 million next year, up from the current $500,000. This will involve promoting the company’s products and participating in upcoming exhibitions in Tripoli. He noted the company has been operating in the Libyan market for 17 years.
Moumen Saeed, a board member of Egypt’s El-Nagah for Metal Industries Company, revealed their plan to increase the company’s exports to Libya to 2,000 tons, up from the current 1,000 tons.
Saeed emphasised the competitiveness of metal industries in the Libyan market, suggesting that companies participating in reconstruction contracts offer the sector significant growth opportunities.
Export figures show a significant increase in Egyptian exports to Libya, reaching $1.6 billion from January to November last year, a 48% rise compared to the same period in 2022.
