A Libyan business delegation will participate in the 10th edition of the Arab Chinese Businessmen’s Conference and the 8th edition of the Investments Symposium, in Riyadh, Saudi Arabia.
The event, which will be held from 22-24 May will be co-organized by the Union of Arab Chambers, the General Secretariat of the Arab League, the Ministry of Investment in the Kingdom of Saudi Arabia, and the Chinese Council for the Development of International Trade (CCPIT).
The Libyan delegation consists of industry leaders who have previously worked with Chinese companies, or those wishing to establish new partnerships by getting to know their Chinese counterparts and their companies participating in the conference.
President of the General Union of Chambers of Commerce, Industry, and Agriculture, Mohamed Al-Raied told Libya Herald that “there are many businessmen in Libya that have commercial dealings with Chinese companies or represent Chinese brands in Libya.”
Al-Raied said that the volume of trade between Libya and China “comes in an advanced rank together with Turkey, Italy, Tunisia, and Egypt.” He added that “Libyan businesses import a lot of commodities, most notably electrical and household appliances, communications and information technology, workshop equipment, cars, and auto spare parts.”
The Libyan authorities have encouraged Chinese companies to resume their projects in the country. These were in infrastructure, housing, railway project, and various development projects during the past decades.
The event comes within the framework of supporting and strengthening Arab-Chinese relations, and following up on the implementation of the executive programme of the Arab-Chinese Cooperation Forum for 2020-2022.
It also comes within the implementation of the decision of the 158th session of the Arab League Council, which stresses the importance of effective Arab participation in the various activities and events of the Arab-Chinese Cooperation Forum.