The Head of the Egyptian Chamber of Commerce in Alexandria, Ahmed Al-Wakeel, has revealed a decrease in the level of trade exchange between Libya and Egypt from 1.37 billion dollars in 2013 to only 455 million in 2023, due to the lack of opening letters of credit and the delay in paying debts, in addition to the obstacles to the transport of containers.
Al-Wakeel said in a meeting with a high-ranking Libyan delegation, in the presence of the Libyan Consul General in Alexandria, Saleh Al-Saadi, and the Head of the Libyan Union of Chambers of Commerce, Mohammed Al-Raied, and the Head of the Benghazi Chamber of Commerce, Industry and Agriculture, Saleh Al-Obeidi, as well as a number of members of the Chambers of Commerce and Industry in Libya and Alexandria, in addition to the heads of the Libyan and Egyptian customs.
Al-Wakeel indicated that it was unacceptable for Egyptian investments in Libya to be only $520 million in light of the demand for reconstruction stages, calling for the return of more than two million Egyptians who were working with Libyans in different fields.
He reaffirmed that Libya and Egypt were striving to restore "this unity with an active role from the private sector to develop intra-trade, joint investments, and job creation." He stressed the need to "go beyond the stage of bilateral relations and start joint work in foreign markets for the benefit of the two countries."
Al-Wakeel called for seeking immediate integration of Egyptian expertise with Libyan investments in Africa for the benefit of the people of the two countries, and for the private sector with the support of the two governments, and to implement joint projects for the reconstruction of all Libya, especially in the fields of transport and logistics, roads and ports, infrastructure and electricity, based on Egypt's experience in the urgent plan for electricity and major projects.
Economy
