The Minister of Economy and Trade, Mohamed Al-Hwej, met with the official of political, economic and commercial affairs at the Embassy of the Republic of Burkina Faso to Libya, and the personal envoy of the Minister of Trade, Bourema Ouédraogo, on Tuesday, at the Ministry’s Tripoli headquarters. The meeting was to arrange for the Libyan delegation to participate in the African International Exhibition for Traditional Handicrafts, in response to an invitation, in Burkina Faso next year.
The meeting was attended by the Chairman of the General Authority for Exhibitions, Essam Al-Aoul, the General Director of the Libyan Export Promotion Centre (LEPC), Mohamed Al-Deeb, and the Director of the Department of Foreign Trade and International Cooperation, Faraj Al-Bey.
In an exclusive interview with Libya Herald, the Media Spokesman for the Ministry of Economy, Fawzi Wadi, said that the meeting came to review the ongoing arrangements for the Libyan delegation’s participation in the handicrafts’ exhibition and the accompanying economic conference in Burkina Faso. The exhibition aims to enhance the prospects for cooperation between the countries of the African Union, under the supervision and preparation of the Ministry’s entities represented by the General Exhibitions Authority and LEPC, as well as with the participation of the Chambers of Commerce and the Libyan Business Council, in addition to discussing the activation of the agreements concluded between the two countries in the fields of trade and investment.
Strengthen African relations
Wadi referred to the Minister of Economy’s speech regarding the desire of the Tripoli based Libyan government to strengthen economic relations and activate cooperation with the Sahel-Saharan countries and the African Union countries, including Burkina Faso.
Gateway to Africa development plan
The Minister of Economy, Wadi pointed out, called for greater cooperation between African countries to achieve economic integration between them to participate with African countries in cooperating with Libya and to contribute to the implementation of the development plan within Libya, which is considered the gateway to Africa. This is especially regarding trade and investment, which aims to establish free and economic zones and establish continental roads to stimulate transit trade between the European and African continents.
Transit trade
Regarding the possibility of establishing Libyan investments in Burkina Faso and achieving good rates of trade between the two countries, Wadi stated that the Ministry is working through affiliated agencies to explore the needs of the African market, including Burkina Faso, to provide them with Libya products or by opening commercial outlets targeting African markets through the transit trade plan towards deeper Africa. This project is approved by the Libyan government, but it needs to establish the appropriate mechanism for implementation in partnership with the private sector and open the door for foreign capital to invest in it.
Burkina Faso seeks improved economic relations
Wadi said that the special envoy of the Minister of Trade in Burkina Faso noted during the meeting the prominent role played by Libya in supporting and developing the African economy. He also highlighted the desire of government institutions and the private sector in his country to strengthen partnerships with economic and investment institutions and the private sector in Libya and work to organise bilateral meetings during the exhibition activities aimed at exchanging experiences and expertise.
