CAIRO: The Libyan government has arranged to hold an economic forum in March to discuss establishing a free trade zone along its border with Egypt, the Libyan Commercial Attaché in Cairo Abdul Razzaq Awad said Sunday.
Awad added that the Libyan government has already agreed to set up a free trade zone with Tunisia, which will help increase intra-regional trade between the three countries, he said during his meeting with officials at the Egyptian Ministry of Industry’s trade agreements sector.
During the meeting, the Libyan official agreed with the Ministry of Industry to prepare a list of the names of commercial enterprises to be registered in Libya to obtain certain protection procedures against brand fabrication.
Libya imports the majority of its goods from Egypt, in industries of food, drugs, furniture, engineering, home products, and building materials, said Awad. He also expressed the Libyan government’s keenness on tackling the problems facing Egyptian importers.
Libya ranked third among Egypt’s major export markets in 2013, with total imports valued at 8.79 billion EGP (U.S. $1.26 billion), head of the Building Material Export Council Hanan Ismail said.
She added that Libya has also ranked third among major importers of Egyptian-made building materials, totaling 2.9 billion EGP ($416 million).
“Security disorder is the greatest problem facing Egyptian exporters,” Hanan said, expressing hope that situations are settled soon.
Originally published in Youm7.