Libya-Italy trade exchanges reach nearly €9 billion

Annual trade exchanges between Libya and Italy currently stand at approximately €9 billion, providing a solid foundation for future growth and economic collaboration.

This figure, reported by Italy’s Nova news agency on October 27, on the eve of the Libyan-Italian Business Forum, scheduled for October 28 in Tripoli, underscores the significant economic interdependence between the two nations and their commitment to expanding their relationship.

Minister of State for Cabinet Affairs Adel Jumaa Jumaa said in this connection that the Business Forum will be an opportunity for Libya and Italy to finalize key new agreements that will strengthen their partnership across various strategic sectors.

These agreements, expected to encompass energy, infrastructure, technology, and possibly the agribusiness sector, aim to promote increased investments, joint ventures, and knowledge-sharing that align with Libya’s development priorities. By fostering partnerships in energy, both nations seek to build on Libya’s resource wealth, while infrastructure and technology investments will support Libya’s modernization efforts, creating pathways for economic diversification and long-term stability.

Jumaa confirmed the upcoming resumption of commercial flights between Tripoli and Rome through the Italian airline ITA. Plans are underway to increase the frequency and range of flights to include additional Libyan airports, making Italy a more accessible destination for Libyan businesspeople, students, and tourists. This development is expected to enhance cultural and commercial ties, stimulate travel and tourism, and improve direct connections for the citizens of both countries, fostering stronger socio-economic ties.

The Libyan-Italian Business Forum will also host dialogues on collaborative projects, underscoring the commitment of both nations to solidify their economic partnership while supporting Libya’s post-conflict recovery and development vision.