Libya is participating with a delegation of business leaders in the tenth edition of the Arab Chinese Businessmen’s Conference and the eighth edition of the Investments Symposium. The event will be held from 22 to 24 May in Riyadh, Saudi Arabia.
It will be jointly organized by the Union of Arab Chambers, the General Secretariat of the League of Arab States, the Ministry of Investment in the Kingdom of Saudi Arabia, and the Chinese Council for the Development International Trade (CCPIT).
The Libyan business delegation consists of business leaders who have previously cooperated with Chinese companies or who wish to establish new partnerships by getting to know Chinese business leaders and their companies participating in the conference.
Many businesses have commercial dealings with Chinese counterparts
Commenting on the Libyan participation, President of the General Union of Chambers of Commerce, Industry and Agriculture, Mohamed Al-Raied, confirmed to Libya Herald that there are many business leaders in Libya that have commercial dealings with Chinese companies or represent Chinese brands in Libya.
China one of the top trading partners with Libya
He added that the volume of trade between Libya and China comes in an advanced rank together with Turkey, Italy, Tunisia and Egypt. He said Libyan businesses import a lot of commodities, most notably electrical and household appliances, communications and information technology, workshop equipment and auto spare parts, in addition to the entry of Chinese cars among the commodities supplied from China.
There are also several Chinese companies that worked in the field of infrastructure, housing, the railway project, and several development projects during the past decades, which the Libyan state seeks to restart.
The event comes within the framework of supporting and strengthening Arab-Chinese relations and following up on the implementation of the executive programme of the Arab-Chinese Cooperation Forum for 2020-2022. It also comes within the implementation of the decision of the 158th session of the Arab League Council at the level of Arab foreign ministers, which stresses the importance of effective Arab participation in the various activities and events of the Arab-Chinese Cooperation Forum.