A recent mission by the Egyptian Federation of Industries to Libya has led to agreements totalling $20 billion in investments and contracts, according to Mohamed El-Bahi, Head of the Arab Cooperation Committee at the Federation.
The eight-day mission, which visited both Tripoli and Benghazi, included participation from 43 Egyptian companies seeking to strengthen economic ties with Libya.
In statements to Egypt’s Al-Ahram newspaper, El-Bahi revealed that the mission signed several cooperation agreements and memorandums of understanding with the Chambers of Commerce, Industry, and Agriculture in Benghazi and Tripoli, as well as with Emaar Libya Holding Company.
“We reached agreements with our Libyan counterparts to establish joint investments and export Egyptian goods to meet Libya’s market demands,” El-Bahi noted, highlighting the specific need for construction materials and other products essential for the nation’s ongoing reconstruction efforts.
Additionally, the Egyptian delegation committed to hosting two exhibitions titled “Made in Egypt” in Benghazi and Tripoli, which are set to showcase a range of Egyptian products tailored to support Libya’s infrastructure needs. The exhibitions aim to enhance Libya’s access to Egyptian-manufactured goods and strengthen the trade relations between the two nations.
The agreements mark a significant milestone in Egypt-Libya relations, aligning with both countries’ goals to foster sustainable economic development. For Libya, these partnerships will support essential rebuilding projects, while Egypt gains a new market for its industries.
As part of the arrangement, both parties expressed their commitment to long-term collaboration, with the shared objective of creating a stable economic environment conducive to mutual growth.
