Egyptian businessmen go to Libyan fair
More than 100 private companies are taking part in the 10-day El-Fateh international fair in Libya, including a delegation of Egyptian businessmen.
A symposium is being held on the margins of the fair, attended by 100 businessmen, to discuss investment horizons in Egypt and Libya and to enhance trade and joint projects between the two countries.
The two sides will also discuss the idea of establishing a Libyan-Egyptian bank to finance trade and investment.
The international fair comes ahead of next October's meetings of the Egyptian-Libyan supreme committee, led by the prime ministers of both countries.
The Egyptian Airlines Company EgyptAir decided recently to resume its air flights to Tripoli. The decision was made after the embargo imposed on Libya was lifted last year.
EgyptAir chairman Muhammad Al-Rayan said the company is organizing two flights to Tripoli every week and the number of flights is expected to increase.
In yet another step aimed at strengthening relations between Cairo and Tripoli, the Egyptian Ministry of Economy announced that it has agreed to the exporting of Egyptian rice to Libya.
The Libyans are expected to purchase 50,000 tons of rice this year. Next year they will buy 95,000 tons - 60 percent of the Libyan market annual needs.
Trade between Egypt and Libya is estimated at LE328.8 million ($80 million). Libya ranks third in trade for Egypt exports among the Arab state.—(Albawaba-MEBG)
© 2000 Mena Report (www.menareport.com)