Libya has today signed an Economic Partnership Agreement with China, the Tripoli based Libyan Ministry of Economy and Trade reports. It was among several African countries participating in the Forum on China-Africa Cooperation (FOCAC 2024) Summit (4 to 6 September) that signed a framework agreement with China.
The framework agreement is for economic partnership and cooperation in the field of trade and investment, accelerating industrialization and agricultural modernization to promote high-quality economic development and achieve common development.
The Economy Ministry says this elevates Libya’s relationship with China to the level of a strategic partnership.
The agreement, the Economy Ministry added, comes on the back of the high-level FOCAC summit, along with its accompanying economic activities and various axes, aimed at a comprehensive strategic cooperative partnership between the African Union countries and China.
Among the most prominent outputs of the FOCAC Summit is the signing of the Beijing Declaration on Cooperation to promote modernization and build a high-level China-Africa community with a shared future in the new era, in addition to the FOCAC Beijing Action Plan (2025-2027). With this shared future in the new era, both sides have worked together to explore their own modernization paths and deepen the implementation of the China-Africa Cooperation Vision 2035.
FOCAC, the Economy Ministry said, also witnessed an important rise in the relationship between Libya and China to the level of strategic partnership within African countries that have previous diplomatic relations with China.
Libya participates in fourth China-Africa Summit in Beijing (libyaherald.com)
