Mon. Jul 8th, 2024

Egyptian Prime Minister Mostafa Madbouly urged, along with the head of the outgoing Libyan “National Unity” government, Abdel Hamid Dbeibeh, to expand the horizons of bilateral cooperation between the two countries, with a special focus on the economic and energy sectors.

The meeting took place in the New Administrative Capital, east of Cairo, where it was agreed on the need to provide the necessary support to stabilize the electrical network in Egypt by activating the joint electrical interconnection project.

Several topics were also discussed, including activating previously signed agreements, activating the results of the Egyptian-Libyan Supreme Committee, which was last held in Cairo in 2021, and preparing for the next meeting with the aim of enhancing mutual investments.

The two sides stressed the importance of supporting the private sector in both countries, working to organize joint exhibitions and conferences aimed at enhancing intra-trade, and establishing an Egyptian-Libyan businessmen council that works under the supervision of the two governments.

Egyptian-Libyan relations in the field of energy have witnessed important developments in recent years, represented by the signing of several bilateral agreements aimed at strengthening cooperation in this vital field. The most prominent of these agreements is the demarcation of the western maritime borders between Egypt and Libya, which were signed on December 18, 2022, as the agreement allows the two countries Explore energy resources in their exclusive economic zones legally.

The two sides also signed a memorandum of understanding regarding the electrical connection between Egypt and Libya on April 20, 2021, an agreement to rehabilitate the Zawiya oil refinery in Libya on February 28, 2019, and an agreement to establish a gas pipeline between Egypt and Libya in 2017.

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