Agreement between Egypt and Libya activating and executing the Agreement related to rights of possession and utilization of agricultural lands in both Countries.

This Agreement is composed of 7 articles. According to the Agreement between the two Countries concerning the right to possess and utilize agricultural lands in their Countries, the Parts agreed on the following: (a) to establish development projects for citizens of both Countries; (b) to meet obligations concerning the transfer of ownership of lands destined for development projects to another Part as soon as the Agreement enters into force; (c) to decree equal rights for citizens of their Countries to possess lands and the permanent residence in both Countries; (d) to undertake any legislative or administrative measures for the nationalization, confiscation and expropriation of projects; and, (e) to allow all aforementioned projects to be tax-free.