Hisham Madkor Abo El-Ezz, the Managing Director of Egypt’s Aqua Flow for Pipes Manufacturing Company, stated the company 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 emphasized the competitiveness of metal industries in the Libyan market, suggesting that companies participating in reconstruction contracts offer the sector significant growth opportunities.
Meanwhile, the head of the Arab Cooperation Committee at the Egyptian Industries Union, Mohamed El-Bahi, disclosed that the union is organizing a promotional campaign for Egyptian companies in Libya. This aims to facilitate their participation in the reconstruction of damaged areas with around 200 Egyptian businessmen.
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.
Waleed Gamal El-Din, the head of the Export Council for Building Materials and Metal Industries, highlighted Libya as a promising export market for the building materials sector due to its strategic and economic importance to Egypt.
Gamal El-Din noted that Libya accounts for 20% of building materials exports and aims to increase sector exports by 15% by the end of the current year through participation in international exhibitions.
He also mentioned ongoing efforts to eliminate transportation and shipping obstacles between the two countries to facilitate the flow of goods to Libya and increase exports.
Sherif El-Sayad, the head of the Export Council for Engineering Industries, expressed expectations of a breakthrough in engineering industries exports through participation in reconstruction projects supported by protocols and agreements between the two countries.
El-Sayad revealed the council’s target to double exports to Libya to approximately $183 million by the end of the current year, following a visit to Tripoli in February last year with the participation of 12 Egyptian companies.
Exports of engineering industries to Libya reached around $91.8 million in 2023 compared to $46 million in 2020, according to the Egyptian Export Council for Engineering Industries.
