A delegation from the Tripoli based Libyan Ministry of Economy and Trade held a meeting with the Moroccan Ministry of Industry and Trade in the capital, Rabat, the Libyan Ministry of Economy and Trade reported last Thursday 20 November.
The Economy Ministry said this comes within the framework of strengthening economic and trade relations between Libya and Morocco.
The Libyan delegation was headed by Shather Essid, Advisor to the Minister and Director of the International Cooperation Office, and included Fathi Al-Amin, Chairman of Misrata Chamber of Commerce, and Member of the Misrata Municipal Council, Ibrahim Al-Shaab, Commercial Attaché of Libya to Morocco, Mohamed Al-Habashi, Director of the Promotion and Marketing Department at the Libyan Export Development Authority (LEDA), Moaz Al-Nuwaili, in charge of Morocco’s file, and Abdullah Al-Jeddy from the International Cooperation Office at the Ministry.
On the Moroccan side, the meeting was attended by Mehdi Senussi, Advisor to the Minister of Industry and Trade, and Hanan Plyakou, Director of Statistics, Studies, Monitoring and Evaluation at the Moroccan Ministry of Industry and Trade.
During the meeting, the Moroccan side made visual presentations on the Ministry’s activity and strategic programmes, including industrial development, trade exchange figures, and investment opportunities available between the two countries.
Enhancing cooperation
The discussions focused on enhancing cooperation and activating the trade and investment partnership between Libya and Morocco, in addition to discussing practical mechanisms to simplify trade procedures and increase the volume of goods and services exchange to serve the common interests of the two countries.
Shather Essid stressed the importance of activating and updating previous agreements and memoranda of understanding, stressing the need to open a maritime trade line between Libya and Morocco as a first step, in addition to opening a direct flight line to facilitate the movement of businessmen and investors in coordination with the competent authorities in the two countries.
Libya’s geographical location offers important opportunity as a hub for transit trade
She also pointed out that Libya’s geographical location gives it an important opportunity to be a hub for transit trade in cooperation with Morocco, and explained that the highest level of trade exchange between the two countries was recorded in 2023, as a result of the extension of the period of allowing Libyan traders to access their goods to Moroccan markets, where about 70% of Libyan dates are exported to Morocco. She also pointed out some of the challenges faced by Libyan traders and the business sector in obtaining a visa, which hinders the flow of business between the two sides.
Draft MoU prepared for signing
During the meeting, Shather Essid presented a draft memorandum of understanding prepared by the Libyan Ministry of Economy and Trade for review by the Moroccan side, in preparation for the signing of the final version during the visit of the Tripoli based Minister of Economy and Trade to Morocco, based on an official invitation to participate in the second business forum on the African Continental Free Trade Area to be held next December.
For his part, Fathi Al-Amin stressed the importance of facilitating the entry procedures of traders and businessmen from the two countries, which contributes to enhancing economic cooperation and creating effective partnerships in various fields. He stressed the readiness of Misrata Chamber of Commerce to host delegations of Moroccan businessmen and investors in the city of Misrata, which includes the free zone and the privileges it provides to investors. It also offers advanced industrial infrastructure, various investment opportunities and its strategic location that supports the trade movement between North Africa and Southern Europe.
Mohamed Al-Habshi also referred to the support of the Libyan Export Development Authority (LEDA) to open a direct sea shipping line between Libya and Morocco, stressing that Libyan products — such as dates and honey — are of great interest in the Moroccan markets. He also referred to the problem of the grace period and the difficulties faced by exporters in financial transactions, explaining that most of the observations they received from exporters are related to the delay in payments and the complexities of banking procedures, stressing that they communicated with several of them before the meeting to monitor these problems.
The Commercial Attaché at the Libyan Embassy, Ibrahim Al-Shaab, confirmed the Embassy’s readiness to provide all facilities to businessmen, provide them with information on the economic, commercial, investment and industrial situation, and help address any difficulties they may face.
At the end of the meeting, the Advisor to the Moroccan Minister of Industry and Trade, Mehdi Senussi, affirmed Morocco’s full readiness to cooperate in trade and investment files with Libya, pointing to the great interest that Morocco pays to strengthening economic relations with Libya. He stressed the importance of activating and updating agreements and memoranda of understanding in order to serve the interests of the two countries, explaining that this meeting reflects the seriousness of the work, and that coordination will be made to hold continuous meetings with the Libyan side to reach tangible results on the ground.
