The Minister of Economy and Trade, Mohammed Al-Huweij, called, in his meeting with the Chargé d’Affairs of the Saudi Embassy in Libya, Ahmed Al-Shehri, for the resumption of the issuance of the Saudi visa from the capital, Tripoli, and the inauguration of a trade line between the two countries, which would contribute to stimulating commercial activity and the movement of business owners and companies, as well as benefiting from Saudi Arabia in the strategy of economic diversification and reforms.
According to the media office of the Ministry of Economy, the minister reiterated the necessity of activating the economic, trade and investment cooperation agreement signed between Libya and Saudi Arabia in 2002 in Jeddah. He urged for the preparation of a draft of two agreements to encourage, protect and guarantee investment and double taxation between Libya and Saudi Arabia, stressing the importance of bilateral cooperation in the field of food security and grain cultivation.
He also stressed the importance of strengthening trade relations and communication between the private sector and business owners in both countries, and organizing joint economic activities to present investment and commercial opportunities as well as exchanging expertise in areas of common interest. He extended an invitation to the Saudi Minister of Commerce to visit Libya.
Meanwhile, the Chargé d’Affairs of the Saudi Embassy in Libya reaffirmed the Kingdom’s desire to enhance trade exchange with Libya and open ways for cooperation in the fields of economy and investment by supporting the private sector and Saudi companies wishing to work in Libya.
The two sides agreed to enhance cooperation and coordination between the affiliated agencies and competent departments of the Ministry and the Commercial Office of the Saudi Embassy to organize official visits including the General Union of Chambers of Commerce, Industry and Agriculture and the Business Owners Council in both countries and to invite Saudi institutions, companies and investors to enter the Libyan market to explore the business opportunities in Libya, which contributes to increasing the volume of trade and investment between the two countries.
