The Libyan Business Council (LBC) announced (on 18 February) that the Libyan African Council for Sub-Saharan Countries held its first official meeting last Monday, 16 February, at the LBC’s headquarters in Tripoli and online.
The meeting aimed to coordinate the LBC’s work, review the report on the LBC Chairman’s visit to Gabon, and develop an action plan to enhance Libya’s economic presence in Africa.
Facilitating access for Libyan goods to African markets
Discussions focused on mechanisms for promoting Libyan industries and facilitating access for Libyan goods to African markets. They also explored joint investment opportunities and support for the private sector.
African represents a promising market for Libyan non-oil products
During the meeting, the LBC said the African continent represents a promising market for Libyan non-oil products, particularly dates, olive oil, fish, canned food products, and building materials. These products have proven competitive in several African countries, reflecting a growing trend to boost Libyan non-oil exports and diversify income sources. Opportunities available to Libyan business owners in the energy, mining, agriculture, food processing, logistics, and infrastructure sectors in countries such as Gabon, Ghana, Benin, and South Africa were highlighted during the meeting.
Activating direct partnerships between the Libyan private sector and its counterparts
Emphasis was placed on the importance of activating direct partnerships between the Libyan private sector and its counterparts in these countries to enhance trade and joint investment. During the meeting, the Libyan-African Council for Sub-Saharan States emphasized that these sectors in the four countries, as well as other African nations, represent a practical platform for enhancing trade between Libya and Africa at the private sector level. This would be achieved through supply and distribution contracts, the establishment of joint ventures, and the development of projects in the energy, mining, agriculture, food processing, logistics, infrastructure, and services sectors.
A work programme agreed
An agreement was reached to develop a work programme that includes organizing business delegations, holding bilateral business-to-business (B2B) meetings, and establishing exhibitions of Libyan products in targeted African markets.
The LBC said that, through the Libyan African Council and other joint councils, is working to strengthen its presence in several African and international countries and to support the interests of the Libyan private sector in the areas of industry, trade, investment, and knowledge transfer, as part of its role as a representative of the Libyan business community.
