Malta and Libya committed towards further economic development

LA VALLETTA (MALTA) (ITALPRESS/MNA) – More than 50 Libyan businessmen and 100 Maltese companies specialized in the field of food industries, building materials, health, insurance, banking and shipping participated in the Libyan-Maltese Trade and Export Forum held in Malta. Libyàs participation and delegation was headed by the Minister of Economy and Trade, Mohamed Hwej, and Minister of Marine Wealth, Adel Sultan.
Maltese Foreign Minister Ian Borg said, “peace and security in the region require a common and equitable Mediterranean prosperity,” adding, “there is no doubt that a strong and successful Libya is an indispensable part of a strong and successful Mediterranean.” Borg affirmed Maltàs determination to support Libya in its efforts towards economic growth and diversification. “Libya remains Maltàs largest export partner in the region and a key import partner, even though much work remains to be done in restoring these figures to their previous levels,” Minister Borg said. He highlighted the success of several Maltese businesses that have established deep commercial relationships between the two countries throughout the years and continue to register positive results today.
“I welcome Minister Al-Hweij’s recent announcement of work to reduce Libyàs dependence on oil sector exports, and to increase the gross value-added contribution of sectors like agriculture, industry, and tourism. This journey reminds us of our own ongoing efforts to adapt to the international economic context, and it is a journey which we hope that Malta and Libya will take together.”
Minister Borg and Minister for the Economy, Enterprise and Strategic Projects Silvio Schembri also held bilateral talks with Minister Al-Hweij, to discuss the latest economic and political developments in Libya and explore avenues for the consolidation of trade and commercial relations between the two countries.
Minister Silvio Schembri said that relations between the two countries continued to strengthen while highlighting the goal to enhance the commercial sector and turn challenges into success stories. “We want to see that a Maltese business has the confidence to invest in Libya, just as it invests in our country,” concluded Minister Schembri.
The Libyan Minister of Economy and Trade, Hwej stressed the importance of investment, trade and export between the two countries for the purpose of achieving economic development and opening cooperation horizons in trade. In this context, the Minister called for work to increase the volume of trade exchange and find appropriate solutions to the problems facing business owners.
– Photo Credit Department of Information Malta –

Source: medNews