On Monday, the Libyan Minister of Economy and Trade in the Government of National Unity, Mohamed Al-Hwaij, met with Indonesia’s Acting Ambassador, Didi Ahmed Rifai, to explore ways to boost trade and investment relations between the two countries.
The meeting, held at the ministry’s headquarters, focused on strengthening collaboration between the chambers of commerce and business communities in both nations. Discussions included the potential development and activation of existing agreements and memorandums of understanding in trade and investment.
Both parties agreed to organize a comprehensive meeting involving chambers of commerce and business councils to address and resolve challenges faced by companies in both countries, coordinating with relevant authorities, according to a statement from the ministry on its Facebook page.
Both sides agreed to continue consultations on existing trade agreements and mechanisms for their implementation. They emphasized the importance of facilitating the movement of businesspeople and easing the procedures for companies wishing to operate in the Libyan and Indonesian markets. Increasing participation in trade exhibitions and economic events organized in both countries was also highlighted as a key area for cooperation.
Libya and Indonesia have a history of diplomatic and economic relations, with recent efforts focusing on expanding these ties, particularly in trade and investment. Libya, rich in oil and natural resources, is seeking to diversify its economy and attract foreign investment to rebuild and stabilize its infrastructure following years of conflict. Indonesia, with its growing economy and strategic location in Southeast Asia, presents a valuable partner for Libya in these efforts.
The discussions between Al-Hwaij and Rifai are part of broader initiatives to strengthen economic relations between Libya and other countries. The emphasis on enhancing cooperation between chambers of commerce and business communities highlights the strategic approach both countries are taking to foster mutual economic growth.
