Officials from the Egyptian ministry of economy and foreign trade recently asserted that the temporary ban imposed on certain Lebanese imports will remain in place until the end of January 2002, reported Al-Sharq Al-Awsat . Lebanese commodities, which are subject to this embargo, include textile, clothes, cars, tobacco, alcoholic beverages, poultry, cement, cables and wires.
The Egyptians imposed this trade ban in a bid to bridge the trade gap between the two countries. Egyptian trade authorities believe that the negative trade balance in these commodities is one of the causes for the dollar crisis in Egypt.
Recently published statistics by the Egyptian Lebanese Businessmen Association reveal that the value of total exchanges between these two states grew to $110 million in 2000, up from $77 million in 1999. This figure included $86 million worth of Egyptian exports to Lebanon, and $34 million imports from Lebanon to Egypt, according to Al-Sharq Al-Awsat daily.
Goods exported to Lebanon comprise of agricultural products, chemicals, leather, carpets, paper and furniture, while imports from Lebanon consisted of apples, ceramics, and mid-size industrial machinery. ― (MENA Report)
© 2001 Mena Report (www.menareport.com)
