Libya, Egypt to co-operate more

[tolibya]

Tripoli - Libyan economy, trade and investment minister, Tayeb Saffi, on Sunday chaired the opening of the Libyan-Egyptian joint co-ordination commission aimed at reviewing the progress of bilateral co-operation in several areas.

The commission comprising experts and technocrats from both countries, were examining opportunities and means available for strengthened co-operation between Tripoli and Cairo, particularly in investment, industry, construction, water, agriculture, sea transport, labour and large contractual projects.

Commission members were also expected to draft proposals on mutual recognition of certificates of origin of manufactured products, on the free movement of people and goods, having free trade zones, fostering investment and the search for mechanisms for the smooth operation of the common border crossing point between the two countries.

They were also scrutinising proposals to eliminate double taxation, the setting up of a comprehensive conception of co-operation on various areas to favour a true economic complementarity, to remove all obstacles against this goal and to draft all these proposals in a memorandum to be adopted at the end of the consultations.

Besides Minister Saffi, the first delegate of the Egyptian trade ministry, members of delegations from the two countries and the Egyptian ambassador to Libya, attended the opening session on Sunday.

In addition, the co-ordination commission was in charge of preparing the meetings of the commission, which would convene next month in Cairo.

This meeting comes in line with an accord signed between the two parties during the meetings held July 19 2006 in Tripoli, stating the transfer of delegations to get informed about the means and opportunities available, and to define strategies for co-operation between the two countries in all areas.

Following those meetings, both parties signed a joint co-operation accord between the Libyan Stock Exchange and the Egyptian's, represented by the Egyptian brokerage, deposit and central registration company. -panapress