Ministry of Economy and Trade, EU and Expertise France Discuss Economic Support to Libya
A meeting was held on Tuesday, 28th of February, 2023, and gathered the Ministry of Economy and Trade with the European Union Delegation in Libya and Expertise France to follow up on the progress of joint projects and discuss ongoing and future economic support to Libya.
The meeting brought together the Minister of Economy and Trade, Mr. Mohamed Al -Huwaij, the European Union Ambassador to Libya, Mr. Jose Antonio Sabadell, the Head of Cooperation at the European Union Delegation to Libya, Mr. Marton Benedek, Country Representative and Ddirector of programs at Expertise France in Libya, Mr. Julien Schmitt, Undersecretary of the Ministry for Commercial Affairs, Mr. Suhail Shiha, Undersecretary for Free Zones affairs, Mr. Nuri Al -Qattati, Undersecretary for Economic Affairs, Mr. Saad Hanish, and other project managers and representatives from the Ministry of Economy and Trade, General Information Authority, the EU delegation to Libya and Expertise France.
Mr. Mohamed El Huwaj, Minister of Economy and Trade, stressed the importance of joint efforts to define specific goals, prepare an integrated economic vision, develop a comprehensive economic matrix, and identify the primary sectors to achieve tangible results and economic diversity in Libya.
The Ministry of Economy and Trade, the European Union Delegation and Expertise France also discussed the priority cooperation topics for the next stage, such as the capacity building of human resources to create job opportunities, supporting startups to secure funds, the need to attract foreign investments, digitization, developing the financial sector, building databases, setting a strategy for economic free zones and transit trade in Libya. These topics were identified as priorities to face local economic challenges, implement global goals for sustainable development and keep up-to-date with international tech developments, which is essential for Libya’s digital transformation.
The participants also touched on the importance of transforming to a green economy and moving towards renewable energy systems to face the climate change effects such as desertification and water shortage.
Mr. Jose Antonio Sabadell, the European Union’s Ambassador to Libya, also emphasized the continued support of the European Union for a mutual vision in developing and diversifying the Libyan economy, stressing that Libya has many opportunities to succeed in many sectors. In the same context, Mr. Marton Benedek touched on the importance of developing financing mechanisms and enabling the private sector by promoting investment. Ms. Federica Petrucci, Deputy Head of Cooperation at the European Union Delegation to Libya, indicated the importance of building and qualifying Libyan capabilities and refining the skills needed for economic diversification through the new European program aimed at building Libyan skills.
Mr. Suhail Shiha, the Undersecretary of the Ministry of Economy and Trade for Commercial Affairs, thanked the efforts made by Expertise France in providing technical support and expertise to support the ministry in achieving its goals and digitalizing its services. For instance, he confirmed that the ministry and other economic institutions have already started working on economic reforms suggested by the White Book, which has been developed by working together through the EU4PSL and E-nable projects funded by the European Union and implemented by Expertise France in Libya.