ArabFinance: Egyptian President Abdel Fattah el Sisi brokered a political agreement aimed at ending the conflict in Libya, according to a June 6th State Information Service statement.

Under the Egyptian initiative, Commander of the Libyan National Army Khalifa Haftar and Libya's Parliament Speaker Aguila Saleh agreed to a nationwide ceasefire, effective June 8th.

The agreement obliges all foreign mercenaries to withdraw from Libya and all militias to hand over their weapons to allow for a political resolution to the conflict, the statement highlighted.

Earlier, both countries signed a cooperation protocol to increase bilateral trade and investments.

The Federation of Egyptian Chambers of Commerce said in early 2019 that the first phase of the proposed reconstruction of Libya will cost an estimated $20 billion (EGP 324.60 billion), and require more than three million workers.

*At press time, the conversion rate is $1= EGP 16.23

 

Copyright © 2020 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.