BEIRUT- Lebanon and Egypt sealed 18 bilateral agreements on Thursday in the fields of economy, trade, transport, environment, youth and sports. “Egypt considers Lebanon a strong partner, but let's face it; our cooperation did not fulfill all its ends,” said Egyptian Prime Minister Ahmad Nazif during meetings of the Higher Lebanese-Egyptian Commission held in Beirut. He stressed the importance of bilateral co-operation in the economic field, in view of the global financial crisis. Lebanese Prime Minister Saad Hariri and Nazif discussed means to protect Arab economies and promote Arab institutions, according to well-informed sources. During a joint news conference, Hariri said talks had touched upon regional developments and the stalled peace process. Both Hariri and Nazif slammed Israel's siege on the Gaza Strip and the building of settlements in the West Bank. They also hoped that Palestinian factions would reconcile. Hariri told reporters that the meeting had discussed the implementation of UN Security Council Resolution 1701, which ended the 2006 war with Israel. “We also tackled Lebanon's role at the UN Security Council and our role in communicating Arab interests to the international community,” he said. Lebanon is one of 10 non-permanent members of the Security Council. In May, Lebanon abstained from voting on new sanctions against Iran, stirring a heated domestic debate.