The Undersecretary of the Tripoli based Ministry of Industry and Minerals, Mustafa Al-Samou, led a Libyan delegation on an official visit to the Somalia, the Ministry reported today.
The visit aimed to explore opportunities for expanding economic cooperation and opening new avenues for partnership in the fields of industry, trade, and investment.
The delegation included Ali Al-Shtiwi, Undersecretary of the Ministry of Justice (serving as Deputy Head of the Delegation), and Ahmed Al-Duwaib, alongside representatives from relevant entities.
The Ministry said the visit featured a series of official meetings, beginning with a meeting with the Prime Minister of Somalia, to discuss ways to develop bilateral relations and expand economic cooperation.
Access to Somali market
The Undersecretary also held talks with the Somali Minister of Trade and Industry, focusing on facilitating trade, enhancing access for Libyan industrial products to the Somali market, and exploring areas for joint cooperation and investment.
Signing of agreement
To translate these discussions into practical steps, the Undersecretary participated in the signing ceremony of a joint cooperation and coordination agreement between the Libyan Ministry of Industry and Minerals and the Somali Ministry of Trade and Industry.
The agreement aims to regulate industrial and commercial cooperation, encourage investment initiatives, and oversee the implementation of agreements reached between the two sides.
Importing livestock
The discussions also addressed food security, specifically examining mechanisms for importing sheep, camels, and cattle from Somalia to the Libyan market, in coordination with relevant authorities and in compliance with approved health and veterinary standards.
The visit programme included the inauguration of the "Abdel Hamid Mohammed Aldabaiba Center for Arab Industrial and Commercial Integration." This initiative aims to support the Arab industrial integration drive and translate its objectives into concrete pprogrammes or cooperation, knowledge exchange, and the development of economic partnerships.
Plot of land for Libyan embassy site
On the diplomatic front, it was announced that the Somali side had agreed to allocate a plot of land for the Libyan embassy headquarters. This move is intended to bolster Libya’s diplomatic presence and facilitate the management of joint cooperation files.
Meetings with private sector
Regarding the private sector, the Undersecretary held meetings with the Somali Chamber of Commerce and Industry, as well as with businesspeople, investors, livestock exporters, and importers of Libyan products.
These discussions focused on exploring partnership opportunities and developing supply chains.
Facilitating financial transfer
Meetings with the Central Bank of Somalia and commercial banks also addressed ways to facilitate financial transfers and settle trade-related payments through official banking channels, in accordance with applicable laws and regulations.
The Ministry of Industry and Minerals said the visit comes as part of its efforts to expand economic partnerships with brotherly nations, open new markets for Libyan products, and align investment opportunities with available production and trade capabilities.
These efforts aim to boost trade volume and strengthen economic cooperation between Libya and Somalia.