The Ministry of Economy and Trade in Libya, in partnership with international experts from Expertise France and with the backing of the European Union (EU), has recently completed the development of a comprehensive National Free Zone and Transit Trade Strategy. This strategic initiative is geared towards revitalizing and expanding the Libyan economy by attracting both foreign and local investments, boosting exports and trade, diversifying the economy, and creating new employment opportunities.
According to Mr. Nouri Al-Qatati, the Libyan Ministry of Economy and Trade’s Undersecretary for Free Zones, “The National Free Zone and Transit Trade Strategy serves as a roadmap towards fortifying and diversifying the Libyan economy. Attracting investments, generating employment, and leveraging Libya’s potential as a regional trade hub are top priorities for the Ministry of Economy and Trade. We appreciate the dedication of the free zones team and the invaluable support from Expertise France in crafting this robust strategy.”
The strategy takes into account Libya’s economic strengths and weaknesses, identifies promising opportunities, and potential threats. It proposes solutions to existing challenges, including a review of current free zone and trade legislation and investment regulations. Emphasizing the importance of public-private collaboration, the strategy focuses on infrastructure and spatial development, legislative reform, and the attraction of investments through efficient mechanisms.
H.E. Nicola Orlando, the Ambassador of the European Union to Libya, highlighted the significance of the “E-nable” project in advancing Libya towards building a resilient economy through economic diversification and sustainable development. The National Free Zone and Transit Trade Strategy is expected to enhance the understanding of Libya’s economic structure, bolster existing sectors, and foster the development of new ones. The EU’s partnership with Expertise France continues to play a pivotal role in supporting Libyan institutions in creating conducive conditions for the private sector to thrive.
A dedicated team of Libyan experts from various government ministries collaborated with international specialists from the EU-funded E-NABLE project to develop the National Free Zone and Transit Trade Strategy. Through a series of workshops held in Libya and abroad, important discussions and exchanges of ideas took place to ensure that the strategy aligns with international best practices. The team also gained valuable insights from a study tour to Morocco’s successful Tangier Free Zone.
Mr. Maxime Bost, Director of Programs at Expertise France Libya, reiterated the organization’s commitment to supporting sustainable and diversified economic development in Libya through its partnership with the Ministry of Economy and Trade on the Free Zones and Transit Trade strategy. The finalized strategy marks the beginning of a comprehensive 15-year phased implementation plan by the Ministry of Economy and Trade, aiming to roll out free zones across Libya strategically. Collaborating closely with relevant stakeholders, the Ministry will develop specific action plans for each economic zone to unlock their potential and stimulate economic growth.
For more information, you can contact Sarah Belamin, Communication Officer for Expertise France’s Economical program in Libya, at sarah.belamin@expertisefrance.fr or +218946660453.
About The European Union:
The European Union consists of 27 Member States that have chosen to pool their know-how, resources, and destiny to build an area of stability, democracy, and sustainable development over the past 50 years of enlargement. The EU is committed to sharing its achievements and values with countries and peoples beyond its borders.
About Expertise France:
Expertise France is the French public agency for international technical assistance, aiming to contribute to sustainable development through enhancing the quality of public policies in partner countries.
About E-NABLE:
E-NABLE is a three-year project funded by the European Union and implemented by Expertise France, with the goal of enhancing the capacities of key economic institutions for a sustainable, diversified, and digital economy to support the economic growth of the private sector.
