The high-level Tripoli based Libyan government delegation visiting Washington DC (from 3 to 12 September) continued its meetings, where it held a meeting with the US Department of Commerce and the Bureau of Economic, Energy, and Business Affairs at the US Department of State.
Activating the Trade and Investment Framework Agreement (TIFA)
The meeting is part of a series of the official meetings programme aimed at strengthening the strategic economic partnership between Libya and the United States and activating the work programme under the Trade and Investment Framework Agreement (TIFA).
Encouraging return of US companies to and opening of Libya offices
The first meeting with representatives of the US Department of Commerce addressed encouraging US companies operating in Libya to open offices within Libyan territory, rather than merely regional offices. This would ensure a direct and effective presence in the local market. The delegation also discussed mechanisms to support the return of US companies and the development of their businesses in various sectors.
Facilitating and stimulating trade flow
In another meeting with the Bureau of Economic, Energy, and Business Affairs at the US Department of State, the situation of US companies and mechanisms for improving their performance and enhancing their role in the Libyan economy were discussed. They also discussed unifying customs and tax procedures, certificates of origin, and inspection licenses for US products exported to Libya, which would contribute to facilitating trade flow and stimulating commercial exchange between the two countries.
Adjusting trade balance, building solid economic partnership in strategic sectors
The discussions also included working to adjust the trade balance and build a solid economic partnership covering strategic sectors, including oil and gas, renewable energy, health, mining, asset management, electricity, communications, transportation, and infrastructure, within the framework of a clear vision to activate the TIFA agreement and expand its practical horizons.
Expanding Libyan investment opportunities in the United States
The two sides emphasized the importance of strengthening the presence of US companies in the Libyan market and expanding Libyan investment opportunities in the United States, reflecting the strength of economic relations between the two countries and paving the way for long-term strategic cooperation that serves common interests.
The high-level Tripoli government delegation included the Acting Minister of Oil and Gas, the Head of the Executive Team for Prime Ministerial Initiatives and Strategic Projects, the Undersecretary of the Ministry of Economy and Trade, the Chairman of the Board of Directors of the Libyan Investment Authority, the Director of the Americas Department at the Ministry of Foreign Affairs and International Cooperation, and the Director of the International Cooperation Office at the Ministry of Oil and Gas.
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Largest-ever Libyan government delegation to visit Washington first week of September
