Libya Herald exclusive: The newly launched Tripoli-based Libya–British Business Council (LBBC), part of Libyan Business Council (LBC), informed Libya Herald today that it has changed its official name to the Joint Libyan–British Business Council (JLBBC).
It will be recalled that the LBC had announced the newly formed body in an official launch event last Monday (9 November) attended by various dignitaries, including the British Ambassador to Libya.
The JLBBC said is change reflects its intention to establish a more distinctive institutional identity and to better express its joint vision, bilateral mandate and strategic ambition to advance economic cooperation between Libya and the United Kingdom.
Vision and Strategic Mission
The JLBBC said it is committed to strengthening economic relations between Libya and the United Kingdom by promoting trade, investment, business development and sustainable private-sector partnerships.
It said it aims to serve as a strategic platform connecting businesses, investors, institutions and economic stakeholders in both countries. Its principal role is to help create the conditions for successful commercial engagement, paving the way for the respective private sectors to access new markets, identify investment opportunities and establish meaningful business partnerships.
A key priority is to support British companies seeking to enter, operate and expand in the Libyan market, while facilitating opportunities for Libyan businesses to access British expertise, technology, investment and commercial networks.
Beyond its bilateral mandate, the JLBBC said it recognises Libya’s strategic geographical and economic position and aspires to promote the country as an important gateway to wider African markets.
Through business facilitation, institutional engagement and strategic partnerships, the JLBBC seeks to encourage British and international businesses to explore commercial and investment opportunities in Libya and across the African continent.
Cooperation and Institutional Partnerships
The JLBBC recognises that sustainable economic development is best advanced through cooperation, coordination and collective institutional effort. Accordingly,it welcomes constructive collaboration and joint initiatives with existing bilateral business councils, chambers of commerce, trade associations, investment organisations, public institutions and private-sector entities working in complementary fields.
The JLBBC said it is committed to building constructive relationships, respecting the mandates and contributions of established organisations, and pursuing mutually beneficial cooperation that strengthens institutional capacity and advances shared economic interests.
Its approach is based on complementarity rather than competition, to create a stronger and more connected business environment for Libyan and British enterprises.
A Forward-Looking Bilateral Partnership
The JLBBC said the adoption of the name Joint Libyan–British Business Council (JLBBC) represents more than a change of designation. It reflects an enhanced institutional vision and a renewed commitment to developing the economic relationship between the two countries.
It said it intends to play a constructive role in facilitating dialogue between the public and private sectors, promoting investor confidence, supporting entrepreneurship, encouraging commercial partnerships and contributing to sustainable economic growth in both Libya and the United Kingdom.