The government of Libya in partnership with Expertise France and supported by the European Union, has developed the National Free Zone and Transit Trade Strategy, which outlines a transformative 15-year roadmap aimed at revitalizing Libya’s economy.
By leveraging free zones and transit trade opportunities, the strategy seeks to; establish Libya as a regional trade hub by creating conducive environments for investors, reducing dependency on oil through the growth of varied sectors, enhancing Libya’s position in regional and global markets and generate new jobs through industrial and commercial activity in free zones.
New strategy
The new strategy will identify Libya’s economic strengths and weaknesses while proposing solutions for challenges such as outdated legislation and investment regulations. It will involve multiple Libyan ministries and institutions, supported by international expertise. A study tour to Morocco’s Tangier Free Zone provided practical insights.
Funded by the EU, this initiative facilitated workshops, knowledge exchange, and capacity-building activities to align the strategy with international best practices. A 15-year rollout will target specific economic zones across Libya, with detailed action plans developed in collaboration with stakeholders.
Mr. Nouri Al-Qatati, Libyan Ministry of Economy and Trade emphasized the strategy as a blueprint for economic strengthening and diversification. H.E. Nicola Orlando, EU Ambassador to Libya highlighted the EU’s role in fostering Libya’s private sector through sustainable economic development. On his part, Mr. Maxime Bost, Expertise France recognized the strategy as a key to unlocking Libya’s economic potential.