Libya, Morocco Sign Trade Agreement

Libya and Morocco have signed a partnership and cooperation agreement aimed at strengthening trade between the two countries, reports African Manager.

Libya Herald reports that the agreement, signed between ”Maroc Exportation” and the Libyan "Exports Development Centre”, followed the international trade fair held during the Ramadan fast in Casablanca.

The agreement cover imports and exports, the holding of common trade fairs, the sharing of data, specific market surveys and training, as well as the promotion of business environment.Mlor

Speaking after the agreement was signed,  that the protocol would improve the level of bilateral trade between the two countries; create an enabling environment for meetings between businessmen from the two countries to discuss trade cooperation opportunities and the possibilities offered for investments within the framework of their partnership.

The managing director of ”Maroc exportation”, Zahra Moafiri, said that Libya wished to benefit from the Moroccan experience, particularly in the areas of packaging, management of products, especially food products meant for export.

The agreement runs until 2016.

Trade between Libya and Morocco is described as “weak”, down by 40 percent over the past few years, from US$ 148 million in 1999 to US$ 88 million in 2005 before stabilizing at US$ 60 million in 2011.

(Source: Libya Herald)

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