Lebanon and Egypt sign economic agreements

Lebanon and Egypt signed Friday four memos of understanding and trade agreements in a bid to strengthen economic ties between the two countries.

The agreements were signed between Prime Minister Saad Hariri and his Egyptian counterpart Mostafa Madbouly.

The first MoU covered the exchange of tax expertise between Lebanon and Egypt.

The second memo between both countries focused on importing Egyptian construction material (pebbles and sand). The third agreement centered on promoting investments between Lebanon and Egypt.

The fourth agreement was on strengthening cooperation in the fields of information technology between Lebanon’s and Egypt’s Telecommunications Ministries.

Hariri said in a joint news conference with Madbouly that both sides have focused on enhancing economic cooperation and to remove all barriers between Lebanon and Egypt.