On Thursday, the Minister of Economy and Trade in the Government of National Unity, Mohamed Al-Huwaij, held a meeting with the German Chargé d’Affaires, Sven Krauspe, to discuss the file of economic and trade cooperation between the two countries and the mechanism for resuming the work of German companies in the country.
Strategic Vision for Economic Diversification:
Al-Huwaij reviewed the ministry’s strategy for economic diversification and the involvement of non-oil sectors to increase the local output. This requires the creation of a genuine economic partnership with trading partners in Libya, especially with the European Union, notably the Federal Republic of Germany. He urged participation in implementing the development and reconstruction plan and establishing investment projects in renewable energy and water resources.
German Commitment to Cooperation and Investment:
On his part, Krauspe confirmed the desire of German economic institutions to enhance trade and investment cooperation with Libya. He noted that German companies are working to resume their operations in Libya and complete contracted projects. They also aim to involve the local private sector in implementing investment projects under the supervision of the Ministry of Economy and Trade and relevant authorities.
Initiating the Libyan-German Economic Forum 2024:
Minister of Economy Al-Huwaij directed the Foreign Trade and International Cooperation Department to coordinate with the commercial section of the German Embassy to organize the Libyan-German Economic Forum in 2024 in the capital, Tripoli. This includes holding bilateral meetings between investors from both countries, with the participation of the General Union of Chambers of Commerce, Industry, and Agriculture, and the Council of Business Owners.
The meeting was held in the presence of the Minister’s Advisor, Mrs. Shather Al-Sayd, the Director of the Foreign Trade Department, Issam Al-Malhouf, and the Head of the International Cooperation Department, Faraj Al-Bey.