Agreements and trade partnerships link Libya with Jakarta and Athens
LIBYA – The Libyan Business Council is working to strengthen trade cooperation with Indonesia and Greece through direct agreements between companies and preparations for investment forums to expand trade and encourage private sector partnerships, according to an economic report by the Indian site Trends in Africa.
Agreement in Semarang on 20 October
The report — followed and summarised by Al-Marsad — said the council signed a cooperation agreement with representatives of the Indonesian business community in the city of Semarang on 20 October to facilitate trade, link companies in the two countries and explore import, export and partnership opportunities.
More than 12 letters of intent worth $1.8 million
The agreement followed a business forum held on 16 October on the sidelines of a trade fair in Jakarta, which resulted in more than 12 letters of intent being signed for potential deals worth more than $1.8 million. Coordination is under way to turn these commitments into actual commercial transactions.
Greek talks and trade delegation visits to Athens
The report said the council had discussed with the commercial attaché at the Greek embassy in Tripoli ways to strengthen trade and investment cooperation, holding a Libyan-Greek business forum in Libya and organising visits by Libyan trade delegations to Athens.
Libya Means Business initiative and online investment platform
It said these steps were aimed at establishing direct contact between companies, identifying investment opportunities and developing partnerships, as well as presenting the “Libya Means Business” initiative and a pilot online platform showcasing private sector projects and connecting companies with potential investors and partners.
The report concluded that the council’s efforts are aimed at diversifying Libya’s trade relations, encouraging private sector investment and opening new channels for international trade cooperation.
