Last Thursday, a cooperation agreement was signed between the Chairman of Misrata Free Zone (MFZ), Mohsen Al-Segutri, and the Head of the Airports Authority, Mohamed Bait Al-Mal, aiming to identify aspects of cooperation and investment in Misrata Airport.
The MoU entails allocating an area of about 47 hectares to establish an area for air cargo and logistics services. This aims to contribute to the localisation of commercial and service activities and the encourage transit and re-export trade, in a way that enhances the development of economic resources in the country and diversifies sources of income.
Airport Free Zone
Speaking exclusively to Libya Herald about the MoU, the Director of the MFZ Media Office, Alaa Baba, stressed the importance of establishing a free zone operating within Misrata Airport to benefit from air freight traffic in establishing multiple commercial and industrial investments and to exploit it in transit trade, in addition to the possibility of providing multi-purpose logistical services that serve all commercial activities, based on the use of air transport.
Sea and air freight integration
Baba pointed to the possibility of integration between the MFZ and Misrata Airport through the transfer of some goods coming by sea through air freight within the transit trade towards other countries, especially the countries of the sub-Saharan African continent, which will benefit from the transit trade through Libya in reducing shipping costs as well as reducing time.
To make Misrata airport a transit trade hub
The MFZ Media Director noted the importance of the agreement in diversifying sources of income, providing job opportunities, and contributing to making one of the most important Libyan airports an international destination for transit trade by linking it to the MFZ port. He reminded that MFZ port has already begun providing maritime transit trade services.
Time frame for operations to be set
Regarding the date of operation of the Misrata Airport area, Baba stressed the free zone’s readiness to prepare all necessary plans after setting a time frame in agreement with the Airports Authority for the actual start of the Misrata Airport area and determining methods and mechanisms for investment in it during the coming year.