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Home Libya

Libya and Algeria seek to activate economic relations on multiple levels

bySami Zaptia
June 2, 2021
Reading Time: 2 mins read
A A
Libya and Algeria seek to activate economic relations on multiple levels

Libya and Algeria seek to improve economic relations on multiple levels (Photo: GNU).

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By Sami Zaptia.

Libya and Algeria seek to improve economic relations on multiple levels (Photo: GNU).

London, 2 June 2021:

Libya and Algeria seek to activate their economic relations on multiple levels. The sentiment came through during the meeting of Libya’s Minister of Economy and Trade Mohamed Hwej and Algerian Minister of Finance Ayman Bin Abdelrahman last Sunday on the margins of the Algerian Libyan Economic Forum held between 29-31 May in Algiers.

During the meeting, Minister Hwej discussed ways to enhance and raise the level of trade exchange between the two countries and expedite the opening of the land border crossing (Al-Dabdab), which Libya sees as representing an economic zone in the Ghadames area.

They also agreed to work on re-studying, evaluating and updating trade and economic agreements, as well as the double taxation agreement in light of the economic and commercial developments that the world is witnessing, and the conclusion of an indicative memorandum of understanding on it.

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The meeting also discussed the mechanism of creating a commercial partnership between the Libyan and Algerian economic actors, activating the role of the private sector in the two countries, working to intensify visits of trade delegations, establishing specialized joint exhibitions, and establishing permanent channels of communication between officials and technical committees to find out any developments in the fields of economy and trade.

At the end of the meeting, it was emphasized the importance of activating the Libyan-Algerian Bank and carrying out its commercial role with the contribution of public and private institutions, and facilitating financial procedures for customers in the two countries.

 

Libya and Algeria agree to resume flights, reopen land borders and launch maritime lines | (libyaherald.com)

Libyan Economy Minister participates in Algerian Libyan Economic Forum 29-31 May | (libyaherald.com)

Libya and Algeria discuss increased economic cooperation and 29 May Algerian-Libyan Economic Form | (libyaherald.com)

Algeria to accelerate reopening of its borders with Libya | (libyaherald.com)

Algeria to reopen its border with Libya as part of its diversification plans – by becoming hub for sub-Saharan transit trade | (libyaherald.com)

Customs Authority preparing to reopen Libyan-Algerian Ghadames-Debdeb border crossing | (libyaherald.com)

High level Algerian delegation visits Tripoli | (libyaherald.com)

Algeria to reopen its border with Libya as part of its diversification plans – by becoming hub for sub-Saharan transit trade | (libyaherald.com)

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Tags: Algeria Algerianeconomy minister Mohamed Hwej GNUfeaturedFinance
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