Libya 2024
Libyan-Egyptian Economic Cooperation
On October 14, 2024, the Libyan-Egyptian Economic Cooperation and Integration Forum was held in Tripoli, under the auspices of the Ministry of Economy and Trade and organized by the General Union of Chambers of Commerce, Industry, and Agriculture of Libya, in collaboration with the Egyptian Federation of Industries. The event was attended by Mohamed Al-Hwaij, Minister of Economy and Trade of the Government of National Unity, along with several economic and diplomatic figures.
CloudSoft5, led by Engineer Khaled Khalifa, Chairman of the company’s Board of Directors, aims to strengthen relations between Egypt and Libya by developing strategic partnerships in the fields of industry and technology. These efforts represent a significant step toward achieving development, focusing on automating governmental and private sector processes to enhance the ability of institutions to meet modern and sustainable market demands, while improving the economic performance of both countries. These initiatives underscore the commitment of both nations to industrial and technological development, reflecting their historical and cultural ties.
The forum emphasized strengthening investment and trade relations between business leaders in Libya and Egypt, as well as discussing obstacles facing companies in both countries and ways to address them. The discussions also included the importance of networking between the private sectors to support investment and trade activities.
Minister Mohamed Al-Hwaij highlighted that the Government of National Unity, led by Abdelhamid Dbeibeh, places particular importance on trade relations between the two countries. He affirmed the Ministry’s commitment to providing all necessary facilitations for local and foreign investors through the Investment Law and economic development plans.
Al-Hwaij stressed the importance of updating agreements between Libya and Egypt to maximize the benefits of their natural resources and strategic geographic locations. He also emphasized the need to enhance technical cooperation and exchange expertise in alignment with labor market requirements.
The forum was attended by several prominent figures, including the Egyptian ambassador to Libya, the President of the General Union of Chambers of Commerce, Industry, and Agriculture of Libya, the Vice President of the Egyptian Federation of Industries, as well as Directors of Foreign and Domestic Trade Departments and the Women’s Empowerment Office.
This forum represents a significant step toward strengthening economic relations between Libya and Egypt, reflecting the ongoing efforts to facilitate investments and achieve economic integration between the two nations.
