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Chinese Firms Set to Return to Libyan Market

May 22, 2024
Chinese Firms Set to Return to Libyan Market

Chinese Firms Set to Return to Libyan Market

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China, through its newly appointed ambassador to the United Nations, Fu Cong has emphasized the importance of a Libyan-led and owned political process, reaffirming its ongoing support for stability in Libya.

This was stated during a meeting on Tuesday between the Chinese ambassador and Libya’s representative to the UN, Taher El-Sonni, where they discussed various issues and the necessity of building on the historical and fruitful cooperation between the two nations.

China is looking to reactivate its relations with Libya through the Libyan-Chinese Business Council to facilitate the work of the private sector and enhance trade cooperation.

This follows a meeting in April between the Minister of Economy of the Government of National Unity, Mohamed Al-Hwaij, and the acting Chinese Ambassador to Libya, Liu Jian.

During this meeting, Al-Hwaij issued directives to the ministry’s administrations to provide facilities for Chinese companies wishing to operate in the Libyan market and to remove obstacles hindering their return to complete investment projects.

The Chinese diplomat expressed the desire of Chinese companies to resume their operations in Libya and contribute to project implementation.

He also mentioned organizing visits involving business owners and the chambers of commerce to foster genuine partnership opportunities between the private sectors of the two countries.

The Libyan-Chinese relations are deeply rooted in history, dating back to the 1970s. Experts believe that strengthening trade relations between Libya and China is crucial given China’s significance in trade, imports, and exports. Such development would benefit the Libyan economy both in the short and medium term.

Last Month, Liu Jian, the charge d’affaires of the Chinese Embassy to Libya expressed China’s willingness to join forces with Libya in nurturing mutual political trust and seeking a political solution through dialogue.

This collaboration aims to achieve national reconciliation, enhance security and stability, and speed up Libya’s reconstruction process.

Liu underscored the significance of Libya’s participation in key international forums like the Forum on China-Africa Cooperation and the China-Arab States Cooperation Forum, marking its 20th anniversary. This involvement is set to bolster Libya’s relations with China and foster deeper connections across the Arab and African nations, underlining Libya’s vital position in these regions.

Highlighting the enduring friendship and partnership between the two countries, Liu described China and Libya as dedicated partners in the pursuit of joint development. Both nations are committed to advancing practical cooperation and high-quality construction under the “Belt and Road” initiative, striving for mutual growth and contributing to regional peace and security.

Tags: ChinalibyaLibyan ElectionsunUnited Nations
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