No Result
View All Result
Thursday, July 10, 2025
23 °c
Tripoli
24 ° Sat
24 ° Sun
  • Advertising
  • Contact
LibyaHerald
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Business

Libya and Egypt follow up on easing cross-border trade movement

Activating memorandums of understanding regarding bilateral trade and insurance

byIbrahim Senusi
September 1, 2023
Reading Time: 2 mins read
A A
Economy Minister Hwej reviews his ministry’s implementation of its 2023 plan and issues several directives

Libya and Egypt discussed easing of cross-border trade movement and activating memorandums of understanding regarding bilateral trade and insurance.

The discussions took place during a meeting held yesterday at the Libyan Embassy in Cairo, which included the advisor to the Tripoli-based Minister of Economy and Trade, Shather Al-Sayd, the Director of the Ministry’s Foreign Trade Department, Ezzedine Mosadeq, the Commercial Attaché at the Libyan Embassy, Mohamed Glaisa, and the head of Joint Libyan-Egyptian Economic Chamber, Ibrahim Al-Jarari.

In an exclusive interview with Libya Herald, the head of the Libyan-Egyptian Economic Chamber, Ibrahim Al-Jarari, said, “The meeting came in order to follow up on the commercial movement through the land port between Libya and Egypt, and to address the issue of solutions to the problems and difficulties facing the flow of movement of goods, merchandise, and services, and the freedom of movement of citizens to move between both sides of the border.’’

Obstacles facing Libyan exporters to Egypt by land
Al-Jarari said that the attendees focused on the obstacles that direct Libyan exports to the Egyptian market through the land port face, especially since Libyan merchants are not interested in exporting to Egypt by sea due to the high cost of sea transportation in addition to its longer duration.

Need increased cooperation from Egyptian economic institutions
Al-Jarari pointed to the importance of strengthening cooperation from economic institutions in Egypt, given that the volume of trade cooperation between Libya and Egypt is constantly increasing, especially with the stable situation in Libya and the rising economic growth in Libya.

RELATED POSTS

National Development Agency signs contract with Egypt’s Ark Company for construction of bridge, road and port projects

LEPC and the Libya Insurance Company hold workshop and sign MoU on ‘‘Export Insurance’’

Need for Libyan-Egyptian coordination to ease movement
The head of the Joint Chamber stressed coordination with the Egyptian side to facilitate the movement of goods and the movement of business owners and citizens, in addition to the two sides participating in organizing joint economic activities in both countries to support investment activities and increase the volume of trade exchange.

Activation of the unified vehicle insurance agreement
Al-Jarari noted the activation of unified insurance for vehicles through the document known as the ‘orange card’ and activating its role in the freedom of movement of individuals and goods alike through ports. This, he continued, is because of its positive impact in protecting capital in particular from the risks resulting from transportation in the two countries, along with its importance in reducing the financial burdens vehicle owners because it guarantees compensation for damages resulting from accidents.

Activating MoU including vehicle insurance, settling insurance debts
Al-Jarari believes it is necessary to complete the procedures and agreements concluded between the two countries in the field of intra-trade, especially what was stated in the memorandums of understanding that were agreed upon in the corresponding meeting last May by the Insurance Supervision and Control Authority and the Egyptian Society for Compulsory Insurance regarding the settlement of the debt owed by the Egypt Insurance Company in favour of Libya Insurance Company in coordination with the Libyan Unified Office.

Tags: Egypt EgyptianIbrahim Jarari head of Libyan Egyptian Joint Chamberinsurance

Related Posts

Aldabaiba opens First Phase of Tripoli’s Third Ring Road
Business

Aldabaiba opens First Phase of Tripoli’s Third Ring Road

July 9, 2025
NOC announces force majeure at Zawia port
Business

BP to reopen office in Libya, Shell discusses prospects for cooperation in oil field development‎

July 9, 2025
English High Court appoints Receiver to manage LIA litigations against Goldman Sachs and Societe Generale
Business

LIA organises investment forum in London with participation of international banks, asset managers and investment funds

July 9, 2025
Akakus Oil drills 15 wells since January – producing 25,000 bpd
Business

Akakus Oil Operations drills new Sharara field well with initial production of 1,750 bpd

July 9, 2025
CBL receives results from meetings with international banks
Business

A 247,000-bpd oil production increase would achieve US$ 6 billion annually to enhance ability to meet FX demand, maintain strength of LD and achieve economic balance: CBL ‎

July 2, 2025
Libya Herald exclusive: Responding to the prime minister’s call yesterday to the private sector and banks to do more, leading businessman Husni Bey responds
Business

Op-Ed: Reputational Damage Is Worse Than Losing Money

July 2, 2025
Next Post
REAoL makes 500 MW Ghadames solar project site inspection

REAoL discusses with Dutch embassy renewable energy cooperation, including training

Dimitra agritech company signs agreement with Libya’s state Al-Assa agricultural project

Dimitra agritech company signs agreement with Libya’s state Al-Assa agricultural project

ADVERTISEMENT

Top Stories

  • Benghazi port receives 398 containers of mixed goods, 25,000 tons of wheat, 28,500 tons of barley and 6,000 tons of cement

    All imports into Libya must be paid for through official bank transactions

    0 shares
    Share 0 Tweet 0
  • Op-Ed: Reputational Damage Is Worse Than Losing Money

    0 shares
    Share 0 Tweet 0
  • A 247,000-bpd oil production increase would achieve US$ 6 billion annually to enhance ability to meet FX demand, maintain strength of LD and achieve economic balance: CBL ‎

    0 shares
    Share 0 Tweet 0
  • Libya’s economy showed recovery in 2024, remained resilient despite reliance on hydrocarbons and ongoing political and security instability: World Bank

    0 shares
    Share 0 Tweet 0
  • CBL demands imports are conducted through official banking instruments and the elimination of the FX black market

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

Aldabaiba opens First Phase of Tripoli’s Third Ring Road

BP to reopen office in Libya, Shell discusses prospects for cooperation in oil field development‎

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Fill the forms below to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • Login
    • Sign Up
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.