2024-04-28 10:55:21
The Ministry of Economy and Trade participated in the dialogue session on applied mechanisms for access to European and African markets, on the sidelines of the activities of the Libyan-Maltese Trade and Export Forum.
Libya was represented by a delegation headed by the Minister’s Advisor, Shadhar Al-Said, and the Head of the Import and Export Department, Fathi Tabika.
The session focused on the importance of international trade as one of the goals of diversification of the national economy, to increase the volume of Libyan exports of local products to enhance revenues from foreign exchange, which is consistent with the policy of the Republic of Malta, which relies economically on international trade.
Al-Said pointed out the importance of Malta’s location to the Libyan state between Europe and North Africa and the geographical proximity, which provides greater opportunities for intra-trade, especially the speed of shipping and low cost, as well as the importance of the role of the Libyan Specifications and Standards Center in raising the quality of local products so that they are compatible with European markets, and overcoming difficulties related to services. Banking, noting that Libyan exports exceed 27 million dollars and Libyan imports from Malta reach 23 million dollars during the year 2023.
During the session, Al-Sid pointed out the proposal to regulate commercial movement in accordance with the Commercial Activity Law of 2010 and the Minister of Economy and Trade’s Resolution No. 359 of 2021, regarding the lists of prohibited goods whose export and import are restricted, and its amendments, noting the support of the Libyan Export Development Center affiliated with the Ministry of Economy and Trade.
Al-Said indicated the necessity of convening the Libyan-Maltese Supreme Ministerial Committee at its 28th session in Libya, the last meeting of which was in 2013, and activating and renewing the memorandums of understanding between the two countries, the most important of which is the economic agreement signed in 1968, regarding treating the two countries as the most favored nation and exempting from all customs duties. Especially, customs duties currently reach 36% on olive oil.
The Director General of the Libyan National Center for Standardization and Standards, Ali Ben Zaytoun, the Director of International Cooperation at the Hadi Center, and the Director of Economic and Financial Policies at the Maltese Ministry of Finance, David Sammut, participated in the session.
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2024-04-28 10:55:21