Libya proposes Egypt new commercial crossing border to spur bilateral trade

Libya’s General Federation of Chambers of Commerce, Industry, and Agriculture has proposed a new commercial crossing on the border with Egypt to facilitate the flow of goods and enhance bilateral trade, separate from the Salum land crossing used by individuals, Libya Observer reports.

Mohamed Al-Raeed, head of the federation, held discussions on the initiative during a meeting with the Head of the Egyptian Chambers of Commerce Ahmed El-Wakeel in Cairo, earlier this week, the media noted.

The two sides addressed several issues, including obstacles hindering the flow of goods between the two countries, easing border congestion, offering opportunities for Egyptian companies in Libya’s reconstruction field, and exploring ways to overcome the challenges associated with such projects.

The Libyan delegation also invited Egyptian businesspeople to visit Libya and explore investment opportunities.

In October, the Egyptian Customs Authority reached a deal with the Libyan Finance ministry to ban the trade of pharmaceutical drugs, other than Egyptian-made, in Libya via Salum border crossing.

The Libyan ministry presented the step as a solution to deter customs violations as part of efforts to enhance trade exchange between the two countries.