A delegation of Lebanese businessmen will visit industrial zones next week, according to Chemical and Fertilisers Export Council (CEC) chairperson Khaled Abou El-Makarem.
The delegation, which is comprised of 40 large Lebanese companies, will begin their four-day visit on 29 May and will travel to factories located in some industrial zones, including 6th of October City, 10th of Ramadan, Badr, Sadat, and Borg Al-Arab in Alexandria.
Bilateral meetings will be arranged between representatives of the Lebanese companies and their Egyptian counterparts.
“50 Egyptian factories in the chemical industry sector are preparing for bilateral meetings with the Lebanese companies, as well as some other factories operating in the sectors of furniture, pharmaceuticals, construction materials, clothing, home furnishings, and medical supplies,” said Abou El-Makarem.
An offshore Egyptian-Lebanese company will be launched this month. The basic structure of the company includes 14 shareholders—eight Egyptian businessmen and six Lebanese businessmen residing in Africa who have commercial companies with a long tradition in marketing and dealing with the African market. The under-construction company aims to strengthen Egyptian exports to Africa.
After establishing the company, it could be put up for an Initial Public Offering (IPO) to acquire new shareholders.
Trade between Egypt and Lebanon was recorded at $540m in 2015, with Egypt profiting from trade relations, according to the Lebanese minister of economy and trade Alain Hakim.