Speaking at the fourth edition of the Egyptian-Libyan Business Forum, held in Alexandria under the theme “Egypt and Libya Towards Integrated Sustainable Development,” El-Wakil emphasized the deep-rooted historical and human ties between the two countries.
“There are millions of Egyptians living in Libya and hundreds of thousands of Libyans residing in Egypt, which reflects the depth of our relationship—a bond that goes far beyond borders,” El-Wakil stated.
He revealed that Egyptian companies have already carried out more than $5 billion worth of infrastructure and development projects in Libya, further cementing the economic partnership between the two nations.
El-Wakil, who also sits on the board of the World Chambers Federation in Paris, stressed that both governments are actively working to revive economic unity by encouraging chambers of commerce and the private sector to lead efforts in boosting mutual trade and investment. “The aim is to develop inter-trade, create joint ventures, and generate employment for both peoples,” he added.
Currently, Libya ranks as the top African destination and the third overall in the Arab world for Egyptian exports—trailing only Saudi Arabia and the United Arab Emirates.
However, El-Wakil noted that these figures could be significantly higher if key barriers such as delayed debt settlements, lack of open credit lines, and difficulties in cross-border truck transit were addressed.
He also called for the reinstatement of over one million Egyptian workers who previously contributed to Libya’s economy in various sectors alongside their Libyan counterparts.
The forum concluded with renewed calls for strengthening bilateral cooperation to promote stability and sustainable development across both nations.
About The Author
