A preparatory meeting was held last Thursday in Tangiers between the Libyan Business Council (LBC) and Chamber of Commerce, Industry and Services of the Tangiers-Tetouan-Al Hoceima region for the Moroccan Libyan Business Forum to be held in Tangiers, Morocco from 1 to 3 November.
The meeting was in the presence of the General Manager of the Out of the Box Company, Yassin Bousrewil, and Abdel Sami Amer Muammar, representatives of the LBC and on the Moroccan side, Abdel Latif Afilal, President of the Tangier Chamber, and Anwar Arbai, Fourth Vice President of the Tangiers Chamber, Mustafa Banaji, Rapporteur of the Chamber, and Badr al-Din Oukhiar, Deputy Rapporteur of the Chamber.
To discover investment opportunities in the two countries
In an exclusive interview with Libya Herald, Yassine Bousrewil, General Manager of Outbox, stressed the importance of establishing a trade and investment forum that brings together business owners in Libya and Morocco to discover the investment opportunities available in the two countries. The forum will also help coordinate efforts to form strategic partnerships in several industrial fields, in agriculture and services. Bousrewil pointed out that Morocco has achieved significant progress at the private sector level with government encouragement.
According to Bousrewil, this meeting was held to complete the final preparations for the forum, where the general context in which this forum will be organized was reviewed.
Moroccan economy liberalised since the 1980s
Bousrewil said he hoped Libyan businesses would benefit from the Moroccan experience in the economic field, as it is one of the leading countries in Africa and the Arab world that has chosen to liberalize its economy and trade since the early 1980s. He explained that this policy was strengthened by adopting a set of reforms that focused mainly on eliminating tariff measures when importing and exporting and simplifying the tax system for imports and rationalization of customs tariffs.
Libya could be a good business partner for Morocco
Bousrewil pointed to the potential that makes Libya a good business partner for Morocco, especially after the increasing growth in private sector activity. The Libyan private sector, he continued, has witnessed clear growth in the areas of production, export, and the search for new markets. It has great commercial potential and a distinctive marketing ability that enables it today to compete and establishing partnerships with its counterparts in other countries. Additionally, there is the activity of some ports and free zones in Libya and the increasing interest in them because of their importance in creating economic diversification.
Forum will open horizons of communication
Bousrewil stressed that the forum will open horizons of communication to clarify the difficulties and confront the challenges facing the low levels of trade and investment between the two countries. This would be by developing joint economic programmes, increasing the volume of trade exchanges and investment opportunities, increasing economic integration, enhancing opportunities for access to African and global markets, improving joint banking cooperation to enhance investment and trade opportunities, and cooperation in maritime and air transport and logistics.
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