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In response to an invitation by the President of the Libyan General Union of Chambers of Commerce, Industry and Agriculture, Mohamed Al-Raied, the President of the Chamber of Commerce, Industry and Services of the Tangier-Tetouan-Al Hoceima Region (Morocco), Abdellatif Al-Bilali, at the head of a Moroccan economic delegation of businessmen, arrived in Tripoli on Wednesday.
Speaking exclusively to Libya Herald, the President of the General Federation of Chambers of Commerce, Mohamed Al-Raied, said, “This visit comes within the efforts aimed at strengthening economic and trade relations between Libya and Morocco, and the return of trade between the two countries to what it was, especially since Morocco has a good role to contribute to Libya’s political stability.’’
Al-Raied referred to the meeting that took place between him and the Moroccan trade delegation at the headquarters of the Tripoli Chamber of Commerce, Industry and Agriculture, where opportunities to enhance cooperation between the two chambers were discussed.
He praised what he called ‘‘this good step’’ by the Moroccan delegation to review the general situation inside Libya and to visit the most important economic institutions, including the Union of Chambers of Commerce, as well as the Ministry of Economy and the Privatization and Investment Board (PIB).
Investment opportunities
This enabled them to be fully briefed on the facilities granted to foreign investors and the investment opportunities available in Libya in the various fields within the approved investment map. This investment map includes working in the field of mining and special materials, with the possibility of establishing factories in free zones for manufacturing industries, building materials, petrochemicals, organic chemical fertilizers, engineering and construction equipment, and other opportunities available inside Libya.
For his part, the spokesman for the Ministry of Economy, Fawzi Wadi, told Libya Herald that the Moroccan delegation visited the Minister of Economy and Trade, Mohamed Al-Hwej, and discussed with him the possibility of enhancing trade and economic cooperation between the two countries.
Visas and flights
In turn, minister Hwej stressed the need to facilitate visa procedures and movement and work to reopen the stalled flights between the two countries. He also expressed his support for the success of the Libyan Moroccan Investment Forum to be held in Tangiers next September.
Hwej added that the Libyan government aims to encourage the trade and investment sectors with the participation of the local and foreign private sector in accordance with Investment Law No 9.
This law provides advantages that support the movement of the sector in various fields, pointing out that the Ministry of Economy and Trade is working to activate free and private zones to activate transit trade and exploit the available natural resources in addition to the geographical location, making it a commercial gateway and a real investment home in all regions.
