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22 Feb 2017

Preparations are Underway for the Convention of the Egyptian Lebanese Joint Commission Co-Chaired by the Prime Ministers of Egypt and Lebanon

Agreement between Dr. Nasr and Mr. Khoury to set up the Egyptian Lebanese Business Council to Promote the Role of the Private Sector

 the Minister of Investment and International Cooperation Dr. Sahar Nasr met with the Lebanese Minister of Economy and Trade Mr. Raed Khoury in presence of the Egyptian Ambassador to Lebanon Mr. Nazeeh Elnagary on the sidelines of her visit to Beirut.

At the beginning of the meeting Mr. Khoury commended economic relations between both countries while Dr. Nasr stressed that the purpose of her visit was to enhance economic cooperation between both countries and to prepare for the convention of the Joint Commission to be co-chaired by the Prime Ministers of both countries. On the Egyptian side, Dr. Nasr co-chaired the Commission's preparatory ministerial committee.

The tangible progress in Egyptian Lebanese cooperation on strategic and economic levels was commended by the Egyptian Minister, as well as the implementation of trilateral cooperation projects in Africa, while she noted that Egypt was looking forward to increasing cooperation during the upcoming period.

Investment, trade and agriculture were on top of the committee's priorities, according to Dr. Nasr, who shed light on the significance of increasing trade volume between both countries, especially that there were opportunities to introduce unconventional commodities and that efforts were directed to removing obstacles on both sides, especially with regard to agricultural products.

The subjects to be enlisted on the agenda of the Commission that will be held in Cairo next month were also discussed, including 15 agreements and memoranda of understanding that would be signed to enhance cooperation in all economic fields, that is besides tackling previously signed agreements. The officials agreed that it was essential to focus on realizing tangible outcomes and projects that would serve the peoples of both countries in fields such as SMEs and information technology that would provide youth with job opportunities.

Most importantly, both sides agreed to promote the private sector's role in developing bilateral cooperation through the establishment of the Egyptian Lebanese Business Council.