Libya proposes Tariff-Free trade deal with Turkey

The Minister of Economy and Trade in Libya’s Government of National Unity, Mohammed Al-Huweij, presented a draft agreement at the 40th meeting of the Standing Committee for Economic and Commercial Cooperation of the Organisation of Islamic Cooperation (COMCEC) in Istanbul on Monday.

The agreement, which was referred to Turkey, would eliminate customs tariffs on food and pharmaceutical products to facilitate trade between the two nations.

During his speech, Al-Huweij emphasised that other COMCEC member states are welcome to develop similar agreements.

He also addressed the oppression and genocide faced by Palestinians, noting the crisis’s impact on several member states and the emerging global geopolitical changes that present new economic challenges.

Al-Huweij called for a more flexible and responsive approach to preparing the agenda to address these urgent changes.

The meeting sessions focused on various topics, including:
– Enhancing intra-trade among member states
– Deepening trade cooperation
– Improving transportation and communications sectors
– Developing a sustainable and competitive tourism sector
– Increasing agricultural sector productivity
– Alleviating poverty
– Cooperating in digital transformation
– Exchanging views on digital payment systems in member states

The meeting also highlighted the importance of supporting the private sector and discussing developments in the trade preference system. The 40th session of COMCEC is set to conclude on Wednesday.​​​​​​​​​​​​​​​​