Libya and Algeria decide to increase their trade volume to $3 billion annually

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Posted – 09th June 2021

Algerian Trade Minister Kamel Rezig stated that Libya and Algeria intend to boost their trade to $3 billion in the coming years.

During a Libyan Arab Forum evaluation meeting last May, Razig stated that trading between the two nations had been “poor,” and that it needed to be boosted to $3 billion by removing all barriers to enabling and sustaining import and export activities.

The Algerian Minister stated that reopening the Ghadames-Debdeb border crossing would create a commercial dynamic that would allow for the revival of economic and commercial activities in the region and that it was an approach that demonstrated Algeria’s sincere desire to establish a distinct economic partnership with Libya.

He called for the reopening of the two countries’ maritime link to facilitate the transport of goods and increase the value of trade, and he noted that the Libyan-Libyan military forum had resulted in the establishment of trade, economic, and investment relations between several companies active in various fields.

In this context, the Algerian Minister stated that the trade sector will seek to overcome all of the challenges that the two nations’ economic players have while exporting to Libya and assisting these enterprises in increasing their trade rate.

LIBYAN EXPRESS

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