The Libyan Minister of Economy, Mohamed Al-Hwaij has reviewed preparations for the Libyan-Moroccan Investment Forum, which will be held in Tangier in September.
The forum will be attended by Libyan businessmen and companies, as well as a trade exhibition aimed at creating opportunities for cooperation and exporting Libyan products.
At a meeting with the President of the Tangier Chamber of Commerce, Abdellatif Belali and other officials, Al-Hwaij affirmed the ministry’s goal to encourage trade and investment.
The ministry’s step aims to involve local and foreign private sectors under Law No. 9 for investment in the state sector. The law provides advantages that support the movement of the sector in various fields.
Furthermore, the ministry is working on activating free and special zones, to activate transit trade and exploit available natural resources. The geographical location of these zones makes them a real gateway for trade and investment in all regions.
According to a statement, the Moroccan delegation expressed a desire to “strengthen trade relations and establish investment partnerships with the Libyan private sector, in areas of common interest.”
The meeting was also attended by members of the management committee of the Tripoli and Zliten Chamber of Commerce and Industry, Saad Al-Dawi and Jalal Bani, and several Moroccan business owners and companies.
Notably, Libyan and Tunisian authorities are gearing up to reconvene the High-Level Joint Committee, after a prolonged period of inactivity. The committee is expected to release new directives, aimed at promoting economic cooperation between the two countries.
Al-Hwaij welcomed Tunisia’s Ambassador to Libya, Al-Asaad Al-Ajili in a meeting held on Saturday.
The primary focus of the meeting was the commercial movement through the joint land borders, and the facilitation of transit procedures for citizens, goods, and services from both sides.
The two sides discussed the current arrangements for the convening of the joint Libyan-Tunisian Higher Committee, stressing the importance of “strengthening trade, and supporting business owners and companies in both countries.”
The Libyan economy has been facing significant challenges in recent years, due to political instability and the civil war.