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Egypt Plans New Trade Corridor to Boost Commerce with Libya

November 27, 2024
Egypt Plans New Trade Corridor to Boost Commerce with Libya
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Egypt’s Ministry of Transport announced progress in planning seven integrated logistics corridors to connect industrial, agricultural, and mining production zones with seaports and main road networks.

Among these initiatives, the Gargoub-Salloum logistics corridor is set to enhance trade between Egypt and Libya. Starting at Gargoub Port on the Mediterranean coast, the corridor will connect to Salloum Land Port, Egypt’s largest land port, linking Egypt’s western region with Libya’s eastern border.

The corridor will include a logistics zone east of Salloum, supported by a 223-kilometre Gargoub-Salloum railway line to streamline transport and trade, according to Egypt Today newspaper.

This project is part of Egypt’s Sustainable Development Plan 2030, which aims to boost regional trade and economic integration.

Recent data from Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS) showed a 42% increase in trade between Egypt and Libya in 2024, reaching $1.7 billion compared to $1.2 billion the previous year. Egyptian imports from Libya in 2023 amounted to $61.7 million.

The new corridor is expected to further strengthen economic ties and facilitate the exchange of goods between the two neighbouring countries.

Tags: economyEgyptlibyaTrade
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