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Algeria and Libya’s strategic ‘‘gateway’’ location and sub-Saharan Africa’s huge potential heralds great potential for transit trade

byLibya Herald reporter
January 19, 2023
Reading Time: 5 mins read
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Algeria and Libya’s strategic ‘‘gateway’’ location and sub-Saharan Africa’s huge potential heralds great potential for transit trade

More than 150 Libyan and Algerian companies will participate in the Forum and Exhibition for Transport and Transit Trade in Africa (AFRO-TT) in Algiers from 30 January to 1 February (Logo: AFRO-TT).

Algeria and Libya’s strategic ‘‘gateway’’ location and sub-Saharan Africa’s huge potential heralds great potential for transit trade, Yassin Bousrewiel, Chairman of the African Economic Forum and General Supervisor of the Forum and Exhibition for Transport and Transit Trade in Africa (AFRO-TT), told Libya Herald in an exclusive interview today.

AFRO-TT will be held in the Algerian capital from January 30 to February 1, with the participation of more than 150 Libyan and Algerian industrial and commercial companies in various disciplines.

Algeria and Libya’s strategic locations: Gateways to Africa
This forum comes due to the importance of the strategic location enjoyed by the two neighbouring countries as a gateway to Africa and the great potentials and human and natural resources of sub-Saharan Africa, he expanded. Sub-Saharan Africa contains about 30 percent of the world’s mineral wealth, 12 percent of oil reserves, 43 percent of gold and 50 percent of diamonds and 67 percent of arable land. The value of African exports and imports amounts to about US$ 1,016 billion, of which 6.8% is intra-trade, Bousrewiel added reinforcing the case for increased trade.

Diagnosing causes of low transit trade
He explained that the forum will shed light on important African trade issues, diagnose the reasons for the low level of African transit trade, and encourage the private sector to enter African markets with the aim of promoting growth and economic diversification, providing new job opportunities, and reducing inflation in government funding spending in Libya and Algeria.

Targeted participants
He added that those targeted to participate in the forum are free and industrial zones, export development institutions, investment and financing companies, telecommunications and information technology companies, businessmen and investors, transportation, shipping and logistics companies, industrial and mining institutions, customs, tax authorities and decision-makers.

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Encouraging private sector investment in free zones and ports
Bousrewiel said the main objectives of the forum and exhibition are to encourage the private sector to invest in free zones and land ports, and to establish the importance of the role of transit trade in developing the economies of Libya and Algeria in particular, and the entire African continent. The forum will also be proposing mechanisms to raise the quality of African logistics services and consolidating cooperation to ensure the effectiveness of transit trade quality.

North and sub-Saharan African integration
In conclusion, Bousrewiel said that the Forum is the starting point towards economic and commercial integration between the countries of North Africa and their neighbouring sub-Saharan states.

 

‘‘The Importance of Railways to Sustainable Growth, Transit Trade and Economic Development’’ workshop – Tripoli, 22 November (libyaherald.com)

Misrata Chamber to hold preparatory meeting for the African Forum and Exhibition for Transport and Transit Trade (libyaherald.com)

Ministry of Economy and Trade discusses mechanism of activating transit trade, free zones and Africa Transport and Transit Trade Forum (libyaherald.com)

Misrata Chamber and Niger delegation discuss improved bilateral and African transit trade (libyaherald.com)

Transit trade: 232 containers transit through Misrata Free Zone port from Barcelona to Sfax (libyaherald.com)

Participation of 100 Tunisian industrial and commercial establishments in the Tunisian-Libyan Exhibition for the Development of Industry and Trade – Misrata 16 to 18 January (libyaherald.com)

Dozens of Libyan manufacturers will participate in the ‘‘Made in Libya’’ event in Niamey, Niger creating a gateway to diversify Libya’s economy: LIU (libyaherald.com)

‘‘Made in Libya’’, Niamey, Niger 6 to 11 March 2023: to aid exports, transit trade and economic diversification (libyaherald.com)

Preparations for the second ‘‘Made in Libya’’ edition in Niamey, Niger progressing (libyaherald.com)

Libya prepares for ‘‘Made in Libya 2’’ exhibition in Niamey, Niger – exports and transit trade to Africa discussed (libyaherald.com)

Most of the ‘‘Made in Libya’’ exhibition space already allocated: Libya Industrial Union (libyaherald.com)

Minister of Industry and Minerals discusses cooperation with Military Industrialization Authority and latest preparations for the Made in Libya exhibition (libyaherald.com)

Libyan Industrial Union to co-organize a ‘‘Made in Libya’’ fair in Tunis in September (libyaherald.com)

Over 150 Libyan companies to participate in ‘‘Made in Libya’’ exhibition to be held in Tunis (libyaherald.com)

Misrata Free Zone continues to process transit trade – LibyaHerald

Maritime transit trade continues through Misrata Free Zone | (libyaherald.com)

First ‘transit trade’ trucks travel from Tunisian border to Misrata Free Zone | (libyaherald.com)

Free, economic and logistics zones, and transit trade to be activated in south | (libyaherald.com)

Britain ready to provide strategic support in renewable energies, free zones and transit trade | (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)

Suez Canal blockage hastens establishment of Turkish logistic centre in Libya for African trade | (libyaherald.com)

Misrata Free Zone starts maritime transit trade operations through first cargo transhipment from China to Turkey | (libyaherald.com)

Benghazi-Kufra Transit Trade Route linking Europe to Africa to use Man-Made River unsurfaced road and offer it for investment | (libyaherald.com)

Ports and Maritime Transport Authority and Elmreisa Free Zone agree to activate free zone through temporary dry port | (libyaherald.com)

Benghazi Elmreisa Free Zone to Africa transit trade road approved in principle by Transport Ministry | (libyaherald.com)

Benghazi Elmreisa Free Zone to Africa transit trade road approved in principle by Transport Ministry | (libyaherald.com)

NOC discusses investment in Elmreisa and Kufra Free zones | (libyaherald.com)

Activation and development of Benghazi’s Elmreisa Free Zone discussed by Libyan government | (libyaherald.com)

Elmreisa Free Zone (efz.com.ly)

Elmreisa Benghazi Free Zone to invite foreign investors early 2018 | (libyaherald.com)

Benghazi Free Zone project moves forward | (libyaherald.com)

Government looks at reactivating Benghazi free-trade zone project | (libyaherald.com)

First ‘transit trade’ trucks travel from Tunisian border to Misrata Free Zone | (libyaherald.com)

Free, economic and logistics zones, and transit trade to be activated in south | (libyaherald.com)

Britain ready to provide strategic support in renewable energies, free zones and transit trade | (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)

Suez Canal blockage hastens establishment of Turkish logistic centre in Libya for African trade | (libyaherald.com)

 

Tags: Algeria Algerianeconomic integrationsub-Saharan Africatransit trade

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