Egypt, Libya Agree to Boost Bilateral Trade

CAIRO - 4 September 2023: Egypt and Libya have announced joint initiatives to resolve issues surrounding their bilateral trade, according to a statement by the Ministry of Economy and Trade in Libya's National Unity Government.

The ministry elaborated in a statement on their Facebook page (noting that Facebook and Instagram activities under the umbrella of "Meta" are banned in Russia for being extremist) that Shadhr Al-Sayyid, the Advisor to the Libyan Minister of Economy and Trade, met with Amani Al-Wassal, Head of the Foreign Trade Sector at Egypt's Ministry of Trade.

During their dialogue, both parties addressed the challenges faced by traders, cargo owners, and citizens at the "Emsaad - Sallum" crossing point, as reported by the Libyan "Al-Wasat" website. In a meeting held in Egypt's New Administrative Capital, they stressed the importance of implementing the existing agreements and memorandums of understanding between the two nations.

On her part, the Head of the Foreign Trade Sector at Egypt's Ministry of Trade recognized Libya as one of Egypt's most vital trading partners. She also pledged that the Egyptian ministry would review the pre-existing permissions imposed on certain Libyan goods and commodities.

Bilateral relations between Egypt and Libya have seen a mix of cooperation and tension over the decades. Historically tied through cultural and geographical proximity, the two nations have collaborated in various areas, including commerce and security.

The recent announcement can be seen as part of the broader effort to strengthen ties amidst the region's complexities and leverage mutual benefits in trade and economy. With Egypt's strategic location and Libya's rich resources, their partnership can be pivotal for the Mediterranean's economic landscape.