Libya-Spain to Establish Joint Business Council

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The Libya Chamber of Commerce, Industry, and Agriculture’s management committee met with the Spanish Ambassador to Libya, Javier García-Larrache. The two parties agreed to establish the Libyan-Spanish Business Council.

A joint exhibition targeting small and medium industries will be set up, helping to support various sectors. It would also enhance the role of these industries in diversifying the national economy and localizing industries, according to a statement.

The meeting discussed the issues and obstacles facing Libyan businessmen and investors in Spain, and solutions to overcome them. They also stressed the need to work together to raise the level of bilateral trade, and encourage the return of Spanish companies to Libya.

The Spanish Embassy described the meeting as “important and fruitful.” It affirmed its “readiness to continue facilitating the returning of Spanish companies into Libya, and to enhance the level of trade and cooperation between the two countries.”

In June, Libyan Minister of Transport, Mohamed Al-Shhoubi discussed with Larrache the participation of Spanish companies in the reconstruction of the country, as well as the development and rehabilitation of Libyan airports.

The Ministry of Transport said that the meeting discussed cooperation in the fields of radar coverage, air navigation, and ports management.

The two sides also discussed raising the efficiency of Libyan employees in the Ministry of Transport, and benefiting from Spain’s experiences in the field.

In March, Prime Minister-designate, Fathi Bashagha met with Larrache in Tunis. He confirmed the “great relations with Spain” and the possibility of working together in various fields, such as energy, counter-terrorism, combatting organized crime, agriculture, water security, and others.

Energy giant Repsol constitutes Spain’s main economic presence in oil-rich Libya. In June, Spanish Prime Minister, Pedro Sanchez paid a visit to Tripoli, during which, he said that Madrid wanted to support Libya’s political process.