The Libyans are betting on the translation of historical brotherhood relations and political understanding with Algeria into advanced economic roles within the framework of the reconstruction of Libya. and Libyan Trade, Muhammad Al-Hawij, in order to discuss the opportunities for bilateral partnerships available.
Algerian Minister of Foreign Affairs Sabri Boukadoum revealed that Algeria, following the instructions of President Abdelmadjid Tebboune, is in the process of making the last logistical and technical arrangements for the opening of the Dabbab-Ghadames border crossing, which has been closed since May 19, 2014. Read also 5 agreements between Libya and Turkey .. This is what the national unity government wants Libya’s sovereign wealth fund asks to unfreeze billions of dollars Libya adjusts and unifies the exchange rate of the currency .. What are the effects of this on the country’s economy?He failed again to impose his conditions … Did international pressure force Haftar to export oil?
He also announced that “the two sides are working on completing the final talks to reopen the maritime line linking Tripoli and Algiers to exploit the transportation of goods and merchandise,” stressing that Algeria’s ambition in the desired economic partnership with Libya will not be limited to increasing trade exchanges, but rather to encouraging the flow of direct investments. Mutual partnerships, the establishment of mixed partnerships, and the participation in the capital of institutions and others.
For its part, the Libyan government expressed through its Minister Mohamed Al-Hawij its desire to establish a free trade zone, and expected trade exchanges to reach $ 3 billion, compared to $ 65 million currently, of which $ 59 million is Algerian exports to Libya.
The Libyan minister also called for the opening of the air route to the capital, Tripoli, which has been suspended since the end of January 2016.
The forum coincided with the visit of the head of the Libyan National Unity Government, Abdel Hamid Dabaiba, to Algeria at the head of an important ministerial delegation, which raised the official talks to the highest level.
Agreements
The Economic Forum crowned its activities with the conclusion of an agreement to establish a business council between the two countries with the aim of enhancing trade exchange, as well as raising the level of investment flows, with a second agreement between the “Palma” complex for milk and its derivatives and foodstuffs and the Libyan “Al-Naseem” complex for foodstuffs, focusing on strategic investments.
The two parties also agreed, during a meeting between the Minister of Finance, Ayman bin Abdul-Rahman, and the Libyan Minister of Economy and Trade, to update the double taxation agreement between the two countries, which dates back to 1988, while expediting the development of the necessary procedures to open the Al-Dabdab-Ghadames border crossing to facilitate the transit of goods by providing various types of goods. Customs mechanisms, according to the Algerian News Agency.
And it was decided to open a banking agency at the level of the border region “Al-Dabdab” to facilitate banking procedures related to settlement and follow-up banking operations related to exchanges between the two countries.
Tawfiq Hakkar, President and General Manager of SONATRACH, the national oil company, stressed that his institution is ready to develop distinguished relations with the Libyan partner to establish a profitable partnership and develop the oil and gas industry.
roadmap
On the other hand, Amin Boutalebi, director of the Arab African Center for Investment and Development, said that the bilateral governmental meetings revealed a clear road map for the Libyan brothers, mainly related to their desire for Algerian companies to contribute to the reconstruction.
In this regard, he mentioned the priorities of the sectors of roads, irrigation, and housing construction, as the main areas that the Libyans focused on, especially the border areas with Algeria.
He confirmed in a statement to Al Jazeera Net that his country can invest in all building materials and market them to Libya, and today it exports iron and cement directly to it, as it markets other products through intermediaries, such as Algerian sugar that enters Libya in large quantities through a French intermediary, as well as the tomato product. .
He expected that the Al-Dibdab-Ghadames border crossing would open up a wide scope for great economic movement in those areas.
He explained that Algeria is now looking for mechanisms to activate bridges of brotherhood and for real construction, but they are never in a hurry. Rather, they want to build a solid base for close ties in economic relations, as a worthy culmination of the depth of political rapprochement, as Minister Mohamed al-Hawij expressed by saying, “We know the people who sincerely love us.” .
He concluded by noting that Algeria, by investing in commercial exchanges with Libya, will be able to deliver its products to Chad and Sudan, and even Congo, Kenya and the eastern neighboring countries, according to the pledges of Libyan officials and dealers.
Promising opportunities
For his part, the economist Ali Qaboussa stressed that the Libyan market is promising for everyone, but it is open to great alternatives, which forces Algerian institutions to acquire product quality and service quality with price, according to international specifications, especially in the field of synthetic and transformative industries of all kinds.
On the other hand, Qaboosa stressed that Algeria can enter the Libyan market with household electrical appliances, mineral water, milk, medicine, and building materials represented in iron, cement, and agarwood (manufactured stone used in construction).
It is also able – the speaker adds – to impose itself in Libya through its National Electricity Company due to its long experience, as well as the oil company that has been in the Libyan fields for 16 years and has the best international talents of engineers and technicians, in addition to the factories of building materials that can partner instead of being satisfied with exports.
Qaboos focused on the opportunities for exporting agricultural products from the southern governorates on the borders of Libya, because they enjoy abundant production, low marketing costs and are subject to agricultural development.
To facilitate transactions between the two sides, Qabusa proposes to establish a “free exchange” zone in the Algerian province of Wadi Souf on the Tunisian border, and to adopt its border crossing to reach the western Libyan markets through Tunisia.