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

اتفاق بشأن تفعيل وتنفيذ اتفاقية التملك والانتفاع بالعقارات والاراضي الزراعية بين جمهورية مصر العربية والجماهيرية العربية الليبية الشعبية الاشنراكية العظمى

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.