The Libyan Export Development Authority (LEDA) has announced the launch of a direct shipping line from Misrata Free Zone port, passing through Tangier, Morocco, towards several African markets, including Nigeria and Cameroon.
Thanks to its geostrategic ports and modern logistics, Morocco has established itself as a gateway to Africa market. After a stopover in Tangier port, the Libyan cargoes will continue their journey to West and central African markets.
According to LEDA, the new service will enable Libyan exporters to reduce shipping costs to target markets and provide them maritime route that contributes to facilitating the movement of exports and opening up new opportunities for Libyan goods in Africa.
The new shipping line will help Libya develop non-oil exports and enhance the presence and competitiveness of the Libyan product in African markets.
Libya’s trade exchanges with African countries are heavily concentrated in North Africa, while exchanges with Sub-Saharan Africa have historically remained minimal. However, the country has started implementing a new strategy to shift this dynamic and boost trade and investment across the continent.
Libya has joined lately Afreximbank to benefit from its financial backing to scale manufactured goods exports to Africa.