‘A strong and successful Libya is indispensable for a strong and successful Mediterranean’ – Borg

Last Updated on Thursday, 25 April, 2024 at 2:34 pm by Andre Camilleri

Peace and security in the region require a common and equitable Mediterranean prosperity, Foreign Affairs Minister Ian Borg has said.

“There is no doubt that a strong and successful Libya is an indispensable part of a strong and successful Mediterranean.” Borg affirmed Malta’s determination to support Libya in its efforts towards economic growth and diversification when he was opening the Libyan-Maltese Forum for Trade and Export. The forum is the first joint-Maltese Libyan event of its kind since 2012.

Libyan Minister of Economy and Trade Mohammed Al-Hweij and Libyan Minister of Marine Wealth Adel Sultan also addressed the opening session of the Forum, which featured exhibitions by Libyan companies, trade visits and discussions on economic areas of mutual interest to the two countries, with the participation of Trade Malta, Malta Enterprise and representatives of the banking, insurance, finance, fisheries and other sectors.

“Libya remains Malta’s 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. Today’s event is an important step towards this goal,” 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.

Minister Borg expressed his hope that the two-day Forum will lay the ground for a renewed collaboration with Libya in sectors which are most important for the two countries. “I welcome Minister Al-Hweij’s recent announcement of work to reduce Libya’s 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.

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