Egyptian exports to Libya hit $68 million in 2000, a 47 percent increase compared with 1999 when exports totaled $42 million, the Egyptian Ambassador to Libya Hani Khallaf said. Egyptian-Libyan bilateral exchanges hit a record $165 million in 1998, but significantly dropped in 1999. The volume of exchanges increased again to $116 million in 2000.
The Egyptian-Libyan balance of trade showed an Egyptian surplus of $15 million in 2000 compared with a Libyan surplus the year before. Libyan surpluses in terms of exchanges with Egypt reached $46 million in 1995.
Relations between the two countries are improving, the ambassador stated. Last May, the Libyan-Egyptian Joint Higher Committee signed several agreements boosting bilateral commercial and economic cooperation including the double taxation avoidance agreement, the investment promotion agreement, and the residence agreement. — (menareport.com)
© 2001 Mena Report (www.menareport.com)
