Egyptian Initiative to Establish Free Trade Zone with Libya

The Egyptian businessmen have floated an initiative for establishing two industrial, trade free zones between Egypt and Libya as well as railways linking Egypt, Libya and Tunisia. The delegation held meetings on 4/6/2012 with Libyan officials on means of promoting economic relations between the two countries.

The delegation, comprising lawmakers and government officials, held talks with officials from Benghazi on how to remove obstacles facing the flow of trade and investments between the two countries, Egypt's Consul General in Benghazi Ashraf Shiha said in statements.

Meanwhile, head of the Egyptian Businessmen's Association Hussein Sabbour said economic and investment projects have to be set up to enhance real development for achieving the two countries' interests. The initiative includes axes aiming to rehabilitate the industry sector, support small investors and boost industrial integration with Libyan neighboring countries.