Speaking to Italian media and quoted by several Libyan news sites, the Minister of State for Cabinet Affairs in the Tripoli based Libyan government, Adel Jumaa, said that the Italian Libyan Business Forum, to be held in Tripoli on Monday 28 and Tuesday 29 October, represents a new and strong step towards strategic cooperation with Italy.
Signing of several MoU’s in the four sectors covered
He said Libya hopes that this forum will be the cornerstone for strengthening cooperation between the two sides adding that the forum will witness the signing of agreements in four key sectors – both at the public and private levels – such as energy, infrastructure, health and agriculture.
The event, hosted by the Tripoli International Fair, will be organized in four main areas, namely the energy and mining sector, development and infrastructure, health and pharmaceutical industry, and fisheries and agriculture.
9 billion euros of annual trade
Jumaa reported that the current volume of trade between Italy and Libya, equivalent to about 9 billion euros per year, forms a solid foundation on which to build, adding that there is still ample room for increasing bilateral transactions and achieving a trade balance between the two countries.
He pointed out that more than 25 percent of Libyan exports are destined for the Italian market, while only 8 percent of Libyan imports come from Italy.
ITA flights to Tripoli to resume soon
Jumaa confirmed the news that the commercial flights of the Italian airline ITA Airways between Rome and Tripoli will resume soon.
He said the resumption of flights is a goal that Libya wanted to achieve by working intensively to adapt airport infrastructure to international standards and that the aim is to increase the frequency of direct flights between the two countries, including other Libyan airports.
Stalemate in the reconstruction of Tripoli International Airport is being resolved
Jumaa said the stalemate in the reconstruction of Tripoli International Airport is being resolved, and the participation of Italian companies, in the project and in other strategic plans, depends on compliance with deadlines, technical standards and contractual clauses.
He added that the increase in visa applications for Italy from Libyan citizens is a real reflection of the economic growth between our two countries.
Stable sea lanes
The growth of Italian imports to Libya increased from $ 1 billion in 2020 to $ 2 billion in 2023, an increase of 100%, thanks to the stable sea lanes between the two countries, which offer Italian goods a competitive advantage in the Libyan market.
New CBL Board to ease commercial transactions
With the appointment of a new Board of Directors of the Central Bank, many of the restrictions previously imposed on commercial transactions have been abolished, and all remaining obstacles are being overcome.
Libyan Italian Economic Forum sets 29 October as event date (libyaherald.com)
Libyan Italian Economic Forum – 16 May at 50th Tripoli International Fair (libyaherald.com)
Libyan Italian Economic Forum will be held in Rome from 1 to 5 December (libyaherald.com)
REAoL leads high-level Interconnection Committee meeting in Rome (libyaherald.com)
Libyan Italian Chamber receives Italian companies in five sectors (libyaherald.com)
Libyan Italian Economic Forum will be held in Rome from 1 to 5 December (libyaherald.com)
Libyan and Italian branches of the Joint Chamber sign MoU to unify strategy (libyaherald.com)
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