The Ministry of Economy and Trade in Libya, in collaboration with international experts from Expertise France (www.ExpertiseFrance.fr) and with the support of the European Union (EU), has finalized an in-depth National Free Zone and Transit Trade Strategy. This strategy aims to revitalize and develop the Libyan economy by attracting foreign and local investment, increasing exports and trade, diversifying the economy, and creating new job opportunities.
"The National Free Zone and Transit Trade Strategy represents a roadmap towards strengthening and diversifying the Libyan economy," says Mr. Nouri Al-Qatati, Libyan Ministry of Economy and Trade's Undersecretary for Free Zones. "Attracting investment, creating jobs, and leveraging Libya's potential as a regional trade hub are key priorities for the Ministry of Economy and Trade. We commend the dedication of the free zones team and the great support from Expertise France in developing this robust strategy."
The strategy takes a comprehensive approach, acknowledging Libya's economic strengths and weaknesses, identifying promising opportunities and potential threats. It proposes solutions to existing challenges, including a review of current free zone and trade legislation and investment regulations. The strategy emphasizes the importance of public-private collaboration, focusing on infrastructure and spatial development, legislative reform, and attracting investments through efficient mechanisms.
“The “E-nable” project, through its activities, brings Libya closer to achieving the goal of building a resilient economy, via economic diversification and sustainable development. The National Free Zone and Transit Trade Strategy will enhance the understanding of Libya’s economic structure, strengthen existing sectors and foster the development of new ones. The EU partnership with Expertise France continues to successfully support Libyan institutions in creating favorable conditions for the private sector to thrive.”said H.E. Nicola Orlando, Ambassador of the European Union to Libya.
A dedicated team of Libyan experts from the Ministry of Economy and Trade, Ministry of Planning, Ministry of Transportation, Customs, Urban Planning Authority and free zones representatives developed the National Free Zone and Transit Trade Strategy. Backed by the EU-funded E-NABLE (https://apo-opa.co/41olHAj) project's international specialists, this Libyan team embarked on a collaborative journey throughout 2023 and 2024. Several workshops held in both Libya and abroad facilitated important discussions and exchange of ideas, ensuring the strategy aligns with international best practices. The Libyan team further strengthened their knowledge with a study tour (https://apo-opa.co/41qjeVU) to Morocco's successful Tangier Free Zone, gaining valuable real-world insights.
"Our partnership with the Ministry of Economy and Trade on this Free Zones and Transit Trade strategy is a testament to Expertise France's commitment to supporting sustainable and diversified economic development in Libya" remarks Mr.Maxime Bost, Director of Programs at Expertise France Libya. We believe this strategy holds the key to unlocking significant economic opportunities for Libya, and we're honored to support this transformative journey.”
With the strategy now finalized, the Ministry of Economy and Trade is ready to commence a comprehensive, 15-year phased implementation plan. This structured approach will ensure the targeted rollout of free zones across Libya. Through close collaboration with relevant stakeholders, the Ministry will develop specific action plans for each economic zone, securing resources and unlocking their potential to ignite economic growth and attract thriving investments.
Distributed by APO Group on behalf of Expertise France.
Contact:
Sarah Belamin
Communication Officer – Expertise France Economical program in Libya
sarah.belamin@expertisefrance.fr
+218946660453
About The European Union:
The European Union is made up of 27 Member States, which have decided to gradually pool their know-how, their resources, and their destiny. Together, over a period of over 50 years of enlargement, they have built an area of stability, democracy, and sustainable development, while maintaining their cultural diversity, tolerance and individual freedoms. The European Union is determined to share 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. It aims to contribute to sustainable development based on solidarity and inclusiveness, mainly through enhancing the quality of public policies within the partner countries.
Expertise France is implementing a range of EU-funded projects in the economic sector in Libya by utilizing highly qualified national and international experts. These projects include SLEIDSE, EU4PSL, PAMRI, and Raqam-e projects, which have successfully contributed to raising awareness about entrepreneurship and coding, supported the private sector, engaged and empowered CSOs and women entrepreneurs, and facilitated access to finance.
About E-NABLE:
E-NABLE is a three-year project funded by the European Union and implemented by Expertise France. It aims to improve the capacities of key economic institutions for a sustainable, diversified, and digital economy to institutionalize the private sector's economic growth with the support of both private and public sector organizations.
