Libyan Minister of Economy and Trade, Suhail Boushiha has been in discussions with Alicia Varela, the General Director of Spanish Foreign Trade and Investment, regarding the return of Spanish companies to Libya and the enhancement of bilateral trade.
Boushiha confirmed the exemption of Spanish companies from previous fees incurred during their pause of operations in Libya. This is a move to incentivize them to resume investments across various sectors.
Boushiha further urged the Spanish side to form partnerships with the local private sector and to organize joint economic events. He emphasized the necessity of facilitating all measures for Libyan businessmen interested in investing in Spain.
In response, Varela expressed the desire of Spanish companies to strengthen their business relations with the private sector in Libya.
In March, the Spanish Ambassador to Libya, Javier García-Larrache announced the return of more than 30 Spanish companies to Libya. He added that this comes within the framework of the Spanish government’s desire to build economic and trade relations with Libya.
During his meeting with the Libyan Minister of Economy and Trade, Mohamed Al-Hwaij, Larrache drew attention to the Embassy’s work in facilitating the granting of visas to businessmen.
The meeting was held at the Ministry’s headquarters in the presence of the Minister’s Adviser, Shather Al-Sayd, the Libyan Ambassador to Spain, Walid Abu Abdullah, the Head of the International Cooperative Department, Faraj Elbi, and the Libyan Commercial Attache to Spain, Abdel-Rahman Al-Bakshi.
On his part, Al-Hwaij stressed the need for Spanish companies to resume operations in Libya, benefit from investment opportunities, and create partnerships with the Libyan private sector. He also emphasised the necessity of activating agreements and memorandums of understanding with Madrid, and updating them in line with international changes.
The Minister called for strengthening cooperation with Spain in food security, agriculture and livestock, and benefiting from Spanish expertise in cooperation with the relevant authorities.
He pointed to the importance of the Commercial Attache in overcoming the difficulties facing economic and commercial activities, in direct coordination with the Libyan Embassy in Spain. The minister also extended an official invitation to his Spanish counterpart to visit Libya.