Tripoli: Libya and Germany are set to enhance their economic and trade relations as the two countries discuss the activation of investment cooperation agreements. Minister of Economy and Trade, Suhail Abu Shiha, held a meeting with German Ambassador to Libya, Ralph Tarraf, focusing on mechanisms to strengthen investment and economic collaboration.

According to Libyan News Agency, the discussions centered on trade indicators, growth rates, and the potential for enhancing their economic partnership. Both parties examined the current activities of German companies in Libya, identifying challenges and exploring strategies to facilitate their operations. The goal is to expand the presence of German firms while supporting the transfer of expertise and technology to the Libyan market.

In addition, the meeting outlined a framework to activate economic cooperation agreements and improve communication between economic institutions in Libya and Germany. This initiative aims to create a conducive business environment and foster long-term strategic partnerships.

Abu Shiha highlighted the significance of the upcoming Libyan-German Forum as a pivotal platform for economic exchange. The forum is expected to bolster communication between the Libyan and German private sectors, opening new avenues for collaboration in energy, industry, services, and technology.

The fifth Libyan-German Forum, organized by the General Union of Chambers of Commerce, Industry, and Agriculture, is scheduled for May 19-20 in Tripoli. The event will feature the participation of the Director General of the Department for Foreign Economic Policy at the German Federal Ministry for Economic Affairs and Energy, along with a delegation of major German companies. The forum aims to facilitate bilateral meetings between companies and investors, encouraging the establishment of long-term partnerships across sectors of mutual interest.