Libyan and Omani Economy Ministers meet – agree to activate several existing agreements and hold a business forum
The Tripoli based Libyan Minister of Economy and Trade, Mohamed Al-Hwej, met with the Minister of Economy of Oman, Saeed Al-Saqri, in Tripoli yesterday.
The meeting was held on the sidelines of the meetings of the Board of Trustees of the Arab Planning Institute being held in Tripoli and comes within the framework of strengthening and developing relations between the two countries.
The meeting was held with the participation of Mr. Mohamed Al-Zidani, Acting Minister of Planning and Abdullah Fahd Al-Shami, Director General of the Arab Planning Institute, where many topics of common interest were discussed reflecting the desire of the parties to strengthen economic cooperation.
Activating the signed economic and commercial agreement
It was agreed to activate the economic and commercial agreement signed between the two countries in October 2009 in Tripoli, which aims to facilitate the exchange of goods, services and investment between two countries and reduce and exempt some agricultural and industrial products from customs duties.
Activating the Libyan-Omani Joint Committee
Activating the Libyan-Omani Joint Committee to follow up on the implementation of the terms of the agreement and develop cooperation in the fields of oil and gas, transportation, health and tourism, was also agreed.
It was also agreed to activate the Libyan Omani Joint Investment Company, which was established under this agreement and is contributed to equally between the Libyan side (public and private sector) and the Omani side and is based in Tripoli.
• There was also agreement on the formation of a joint technical committee to follow up and coordinate on mutual visits between delegations in preparation for holding meetings of the Libyan-Omani Joint Higher Committee.
• Exchange of experiences in the fields of development and reconstruction between the two countries was also agreed.
Libyan-Omani Economic Forum before end of 2025
It was agreed to organise the activities of a Libyan Omani economic forum before the end of this year, and on the sidelines of this forum, the establishment of the Libyan Omani Business Council will be announced.
Omani companies invited to participate in Libyan projects
Within the framework of the interest of the Tripoli government in cooperation with the Arab countries, Omani companies were invited to participate and contribute to development projects and reconstruction in the State of Libya, as well as facilitating the procedures for their registration in the Ministry of Economy and the Ministry of Planning.
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