Tunisian-Libyan business council to foster trade | Tunisia News Gazette

Tunisian-Libyan business council to foster trade

The Tunisian-African Business Council (TABC) on Friday in Tunis launched the first Tunisian-Libyan Business Council.

The aim of this council is to focus on a better economic rapprochement between the two countries and provide the necessary support to relaunch trade and investment between the two business communities, said Bassem Loukil, President Tunisian African Business Council (TABC), at the launch of the first bilateral business council.

This council, which is part of a series of bilateral councils with Libya, Sudan, Guinea Conakry, Benin and Mali, is planned by the TABC during 2018 as part of an initiative to foster Tunisian Economic entrepreneurship through bilateral business councils with the African countries and to improve the trade relations.

Loukil indicated that trade between Tunisia and Libya in 2010 reached $1.25 billion which is far greater than it is today, and the Libyan market represented 7% of the total exports making it the second partner after the European Union, therefore it is mandatory to explore a new mode of cooperation to facilitate the economic flux between the two countries.

The Libyan market is on its way to recovery, as demonstrated by the 55.1% growth in GPD in 2017, which is a positive sign and an opportunity to be a part of this economic awakening, he added.

Loukil said the data available suggests that there will be an important political transition phase in the next 6 months, probably through elections. Political stability in Libya is due for 2019.

This is the opportunity, now or never, to position Tunisian companies in such a manner as to enable them to contribute to Libya’s reconstruction effort and the revival of its economy. ” he went on saying.

Source: TAP News Agency

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