Egypt is open to Lebanese investments,
which rank 13th among FDIs in the local market at an estimated $1.28
billion.
Cairo- Sep
19, 2022
Minister of Trade and Industry
Ahmed Samir has taken part in the 6th Egyptian Lebanese Businessmen
Friendship Association (ELBA) meeting, held in Cairo under the patronage of
Prime Minister Mostafa Madbouly.
Organized by ELBA, the event was
attended by Lebanese Ambassador to Cairo Ali Al-Halabi and Secretary-General of
the Union of Arab Chambers Khaled Hanafi, among a host of businessmen from both
countries.
“Egypt is keen on expanding mutual
economic cooperation with Lebanon. There are ample investment opportunities for
joint partnerships between our business communities,” Samir said in his keynote
speech, highlighting the various competitive advantages in the local market
especially in the fields of construction, agriculture, energy and technology.
The ministry, he added, has exerted
efforts to eliminate obstacles hindering trade flows with Lebanon, which has
boosted Egyptian exports to the Arab country by 71% to reach $228.5 million in
2021 and bilateral trade to $579.5 million, up 35.4% from 2020.
Egypt is open to Lebanese investments,
which rank 13th among FDIs in the local market at an estimated $1.28
billion, in 1,904 companies operating in the financial, industrial, service and
real estate sectors.