No Result
View All Result
Tuesday, October 7, 2025
23 °c
Tripoli
24 ° Sat
24 ° Sun
  • Advertising
  • Contact
LibyaHerald
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Business

Libyan-Tunisian trade set to increase in 2018 : General Union of Libyan Chambers

bySami Zaptia
May 10, 2018
Reading Time: 2 mins read
A A

By Sami Zaptia.

The Libyan General Union of Chambers of Commerce and Industry has called upon the Libyan authorities to reform the economy through devaluation and subsidy reform (Photo: General Union of Chambers).
The head of the Libyan General Union of Chambers of Commerce and Industry predicts that Libyan trade with Tunisia will increase in 2018 (Logo: General Union of Chambers).

London, 10 May 2018:

The head of the General Union of Libyan Chambers of Commerce and Industry, Mohamed al-Raeid, predicted a rise in trade between Libya and Tunisia this year due to measures put in place to facilitate trade between the two countries, the Tripoli-based LANA state news agency reported today.

“The volume of trade between the two countries is expected to reach about LD 900 million dinars (US$ 643 million) in 2018, compared to about LD 500 million (US$ 357 million) in 2017’’, he said. Raeid said the reason for last year’s decline in trade was due to security disturbances that led to the closing down of the Libyan-Tunisian land border for a total of 120 days during 2017.

There is a desire to raise the rate of trade in order to return to the natural levels that existed before the 2011, which was then about two billion dollars a year, he added.

RELATED POSTS

Over sixty Egyptian companies hold B2B meetings with their Libyan counterparts

Delegation from Libya’s Ministry of Economy and Trade visits Malaysian Development and Construction Authority

The head of the General Union of Chambers explained that there are advantages for Libyans in sourcing goods or services of Tunisian origin from neighbouring Tunisia. These included exemption of customs duties between the two countries as well as proximity and shorter transport distances. Equally, analysis certificates issued by either country are accepted in both countries.

There is also an agreement between the Tunisian and Libyan Central Banks on the opening of documentary letters of credits to Libyan businessmen in hard currency rather than the documentary credits effected in Tunisian dinars previously. These contribute to increasing the rate of trade between the two neighbouring states, he added.

In addition, since April this year, the Central Bank of Libya has instructed Libyan banks to allow the opening of documentary credits or other operations transfer of the permitted import of goods and services from Tunisia in Tunisian dinars under the unified bilateral payment agreement of the Maghreb Union, provided that the goods or services are defined as being of Tunisian origin.

 

 

 

https://www.libyaherald.com/2017/04/15/libyas-union-of-chambers-of-commerce-calls-on-presidency-council-the-central-bank-of-libya-and-audit-bureau-to-take-steps-to-save-libyan-economy/

 

https://www.libyaherald.com/2016/03/30/agreement-to-set-up-libya-dutch-chamber-of-commerce/

 

https://www.libyaherald.com/2018/01/14/eu-to-support-in-upgrading-role-of-libyan-chambers-of-commerce/

Tags: featuredGUCCI General Union of Chambers of Commerce and IndustryMohamed RaeidMohamed Raied

Related Posts

Mellitah Oil & Gas looking to charter three helos
Business

NOC Chairman gives green light to start installation of giant compressors in Bahr al-Salam field ‎

October 7, 2025
The International Forum & Exhibition for Free Zones – Misrata: 28 to 29 June at Misrata Free Zone
Business

Misrata Free Zone port ranked 20th most improved free port by 2025 World Bank report

October 7, 2025
Air traffic increasing over Kufra Airport airspace – up to 100 international airliners per day
Business

Air traffic increasing over Kufra Airport airspace – up to 100 international airliners per day

October 5, 2025
NOC announces force majeure at Zawia port
Business

Eni North Africa resumes exploratory drilling in offshore area D (mn41) northwest of Libya – after 5-year hiatus

October 5, 2025
Bilateral Chamber to hold high-level U.S.-Libya Ministerial Roundtable in Houston on 13 October
Business

Bilateral Chamber to hold high-level U.S.-Libya Ministerial Roundtable in Houston on 13 October

October 5, 2025
Jumhouria bank main sponsor of Bahrain’s AAOIFI Annual Conference
Business

Jumhouria Bank to open 6-ATM state-of-the-art cash withdrawal facility in the southern region

October 4, 2025
Next Post
Details of 2018 LD 42.5 bn budget revealed. First budget to be agreed without international mediation

Details of 2018 LD 42.5 bn budget revealed. First budget to be agreed without international mediation

Fuel smugglers’ sites bombed by Air Force, petrol stations shut down as part of continuing anti fuel smuggling drive

Fuel smugglers’ sites bombed by Air Force, petrol stations shut down as part of continuing anti fuel smuggling drive

ADVERTISEMENT

Top Stories

  • NOC Chairman Bengdara resigns for health reasons – Masoud Sulieman Mousa appointed as temporary Acting Chairman

    Leaked decision: Aldabaiba appoints Masoud Suleiman Musa as fulltime Chairman of the National Oil Corporation

    0 shares
    Share 0 Tweet 0
  • Eni North Africa resumes exploratory drilling in offshore area D (mn41) northwest of Libya – after 5-year hiatus

    0 shares
    Share 0 Tweet 0
  • Dollar exchange rate falls to Libyan Dinar in black-market four days after end of deadline for withdrawal of old LD 5 and LD 20 notes

    0 shares
    Share 0 Tweet 0
  • Bilateral Chamber to hold high-level U.S.-Libya Ministerial Roundtable in Houston on 13 October

    0 shares
    Share 0 Tweet 0
  • Air traffic increasing over Kufra Airport airspace – up to 100 international airliners per day

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

NOC Chairman gives green light to start installation of giant compressors in Bahr al-Salam field ‎

Misrata Free Zone port ranked 20th most improved free port by 2025 World Bank report

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Fill the forms below to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • Login
    • Sign Up
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.