Category: Market

Tripoli– The Central Bank of Libya announced, Thursday, its intention to issue electronic cards (MasterCard – Visa) at a value of $100,000 annually, to small merchants, as of the first of next March.

In a post on its official Facebook page, the bank said; “ In order to facilitate and encourage small merchants with individual licenses and industrial and service companies”, the Central Bank of Libya decided, during the meeting of the bank’s governor, Al-Siddiq Al-Kabir with the concerned departments, to issue an electronic card (MasterCard and Visa) at the value of $100,000 annually as of 1st of March.

Source: Libyan News Agency

Tripoli -Minister of Economy and Trade, Mohamed Al-Haweij, followed up with the Tunisian Ambassador to Libya, Asad Al-Ajali, the work of the joint committee between the export centers in the two countries, and the possibility of setting up a mechanism for the bilateral meetings, to be held during March 2023.

The meeting, which was held at the Ministry’s office, in the presence of the Director of Foreign Trade and Cooperation Department, the Director General of the Export Development Center, discussed problems and obstacles facing work to develop bilateral exports towards global markets.

The Minister stressed the need for cooperation in the area of training and developing cadres, holding joint exhibitions with the aim of exchanging experiences in cooperation with the General Authority for Exhibitions, and the importance of exporting to African markets, especially since Tunisia is a trade partner to Libya.

Source: Libyan News Agency

Rome- The Agency for Trade Promotion and Internationalization of Italian Companies confirmed today, Thursday, that Italy is Libya’s first trading partner in the first eleven months of 2022.

According to the Trade Promotion Agency, the volume of trade between Italy and Libya amounted to 11.09 billion euros, an increase of 67.38 percent compared to the same period in 2021, and a market share of 23.19 percent, ahead of China, which recorded an increase of 9.22 percent, with a market share of 4.41 billion euros, and Greece. By 8.31 percent, with 3.97 billion euros, according to what was published by the Italian news agency Nova.

The agency said that Italian exports to Libya recorded a growth, in the first eleven months of 2022, by 73.69 percent compared to the same period in 2021, reaching 1.94 billion euros and a market share of 13.11 percent. Italy, according to the agency, is the third supplier to Libya after Turkey, with a total of 2.46 billion euros and 16.44 percent, with a market share of 16.64 percent, and China with 1.97 billion euros and 22.49 percent and a market share of 13.32 percent compared to the first eleven months of 2021. Greece and Belgium remain in fourth and fifth positions, respectively, with 11.78 percent and 8.17 percent market share. In contrast, imports to Italy from Libya grew by 66.1 percent to 9.15 billion euros.

Italy was confirmed and consolidated, in the first 11 months of 2022, the first market for Libyan exports with a market share of 27.7 percent, ahead of Spain (10.51 percent and 3.5 billion euros), Germany (9.57 percent and 3.16 billion euros), and China. (7.39 percent and 2.44 billion euros).

Source: Libyan News Agency

Benghazi -The Speaker of the House of Representatives, Ageela Saleh, met yesterday, in Benghazi, with the head of the government designated by the parliament, Fathi Pashagha.

The official Spokesman for the Parliament, Abdullah Belihaq, stated that the meeting discussed a number of political, economic, and service files, foremost of which was the progress of his government’s work.

Source: Libyan News Agency