100 Egyptian Companies to Participate in Iraq, Libya Reconstruction

By Ahmed Yasser

CAIRO, Apr 8 (SEE)- 100 Egyptian companies will be involved in Iraq and Libya reconstruction missions starting from April and May. Nasser Bayan president of the Egyptian Libyan Association, explained that the association will discuss with a delegation of 50 Egyptian companies in the fields of engineering, building materials, pharmaceutical and textile industries in May. The mission is considered as the first of its kind since the Libyan revolution which broke out in 2011.

 Libyan market is one of the most promising and hard to lose markets on both investment and export levels. The mission seeks to develop partnership in Libya by setting up factories with joint investments "Egyptian-Libyan", according to Bayan.

He explained that the mission will begin its to visit Benghazi city, as the most secure country, to rediscovery the Libyan market and discuss ways to invest.

Libya

According to Central Agency for Public Mobilization and Statistics (CAPMAS) data, Egyptian exports to Iraq dropped by 6.9 % last year to reach 478.3 million dollars, compared with 513.6 million dollars in 2017, while Egyptian exports to Libya increased to 632.5 million dollars compared to 413.1 million dollars during the same period 2017.

The delegation, consisting of 50 Egyptian companies in contracting and building materials sector, began their visit to Iraq on April 6, for 3 days to hold bilateral meetings with Iraqi companies to participate in the reconstruction plans.

Central Agency for Public Mobilization and Statistics (CAPMAS)

Meanwhile, Farouk Mustafa the deputy of the Export Council for Building Materials, reported that Egyptian products have a promising opportunity in Libyan and Iraqi markets during the next stage.

He said the Council aims to focus on these markets in the coming period, as it's one of the most important markets that will raise the Egyptian exports value and that it was one of the most important countries which receives sector exports.

Iraq,Libya reconstruction after War

Also, he added that  met representatives of Iraqi Industries Federation and called on companies to participate in the reconstruction process, to be discussed organizing a visit of the Chamber's companies to Iraq.