Egypt boosts cooperation with Lebanon

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Tue, 05 Mar 2019 - 10:05 GMT

Investment - Courtesy of Flickr

Investment - Courtesy of Flickr

CAIRO – 5 March 2019: Prime Minister Mostafa Madbouly met Monday with Lebanon's Minister of Communications Mohammed Shoukair in the presence of Egypt's Minister of Communication and Information technology Amr Talaat to discuss ways of boosting mutual cooperation.

“Egypt is keen on cooperating with Lebanon on all fronts; we are ready to hold joint meetings to discuss possible opportunities in different fields of investments,” Madbouly said.

Madbouly welcomed an invitation from his Lebanese counterpart Saad Hariri to visit Lebanon soon.

For his part, Shoukair lauded Egypt's efforts to ensure stability in the Arab region, praising the great achievements made in terms of infrastructure, national projects, Suez Canal’s investments and education.

“The great progress achieved in Egypt contributed to duplicating its rate of growth and reducing unemployment rates to a crawl,” Shoukair further elaborated.



Moreover, Sahar Nasr, minister of investment, reported Egypt’s keenness to enhance investments in Beirut, and establish joint business in Africa.

“More than 1,645 Lebanese firms are engaging in business in Egypt worth $670 million,” Nasr stated.

In a similar vein, Prime Minister Madbouly held another meeting to set a plan for attracting more investments in the Suez Canal followed by a third one to follow up updates of Ruwiki project.

It is worth mentioning that Ruwiki project is a leather factory set to be located at the new town of leather, Ruwiki. The Chinese company Shang Sheng expressed its desire to obtain the right to operate that factory.

Moreover, Madbouly is going to meet with chairman of Organization African Trade Union Unity in the presence of all ministers and related officials.

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