FILE - Lebanese Minister of Interior Nehad al-Mashnouq
CAIRO - 24 July 2018: Relations with Egypt are deep and strong on all economic, commercial, industrial and security aspects, Lebanese Minister of Interior Nehad al-Mashnouq told MENA on Tuesday on the occasion of July 23 Revolution that ended the monarchy in Egypt in 1952.
The minister elaborated that ties between both countries have significantly developed recently, citing the joint cooperation committees and memoranda of understanding (MoUs). As for security matters, the two countries witness remarkable collaboration with regard to combating terror, where Egypt and Lebanon signed an agreement for Lebanese officers to receive training in Egypt’s Police Academy.
The volume of trade exchange between Egypt and Lebanon reached $674 million in 2017.
In the first four months of 2017, Egyptian exports to Lebanon recorded $235 million, 50 percent more than the same period in 2016.
Over 25 years, the number of Lebanese projects in Egypt reached 1,400 projects, with Lebanon ranking the 13th largest foreign investor in the country, recording $3.7 billion in investments.
In 2017, Egypt and Lebanon struck a $3 million contract under which Egypt exports readymade clothes to Lebanon, the United Arab Emirates and a number of West African states.
A Lebanese fashion design company will depend on Egypt in manufacturing clothes, which will be sold in the aforementioned countries.