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ESCWA: Libya’s Peace Will Bring Economic Benefits to Neighboring Countries

July 6, 2021
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The United Nations Economic and Social Commission for Western Asia (ESCWA) issued a report reflecting the expected economic outcomes should peace be achieved in Libya. It highlighted regional cooperation, especially in the field of trade with neighbouring countries such as Tunisia, Egypt, and Sudan.

The report stated that the outbreak of destructive conflicts around the region in the wake of the Arab Spring has been a source of great concern to all political actors and political organizations in the region. This period was marked by the development of armed groups and terrorism, which was a major source of instability, and the fragility of state institutions was highlighted in many Arab nations.

The report indicated that achieving peace in Libya would contribute to strengthening regional cooperation, and ensure significant gains in investment and employment growth for neighbouring countries that include Algeria, Egypt, Sudan, and Tunisia.

The total expected growth in earnings is $161.9 billion, divided among neighbouring countries as follows: $99.7 billion in Egypt, $29.8 billion in Algeria, $22.7 billion in Sudan, and $9.7 billion in Tunisia.

Tags: EgyptESCWAlibyaSudanTunisiaUnited Nations
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