Libya, Morocco improve business ties

Libya, Morocco improve business ties
Talk about economic co-operation between Morocco and Libya encourages investors on both sides.

By Hassan Benmehdi for Magharebia in Casablanca – 11/21/2012

[Hassan Benmehdi] MoroccanIndustry Minister Abdelkader Amara is encouraging businesses to capitalise on the “very profound” ties between Morocco and Libya.

A high-level Libyan delegation just wrapped up several days of talks in Morocco aimed at launching economic partnerships.Libyan Chamber of Commerce chief Idriss Omran said that a favourable business climate existed for investment in both Libya and Morocco.”We have serious feasibility studies and projects going on in both countries to trigger investment,” he said November 14th at the conclusion of the 2-day Casablanca conference.Moroccans are being invited to capitalise on business opportunities Libya. This includes optimistic investor Allafi Khalifa Othman.”Moroccan businessmen need to take advantage of the investment opportunities in Libya, because we now have planned investment projects worth $200 billion still in the pipeline,” he said.The importance of instituting a shipping link between Casablanca and Tripoli to accelerate and encourage economic and commercial exchanges was an issue brought to the table by Casablanca Chamber of Commerce chief Hassan Barkani.The Moroccan and Libyan business leaders talked about eliminating visas for business people, the possible formation of a Moroccan-Libyan bank, and other ways to make it easier for Libyan products to reach the Moroccan market.Officials also discussed what needs to be done in order for the joint Moroccan-Libyan Chamber of Commerce to get off the ground.
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Moroccan Industry Minister Abdelkader Amara called for people to capitalise on “very profound” Moroccan-Libyan relationships in order to establish a solid economic partnership.The two countries are proving their willingness to strengthen their economic and commercial co-operation to meet the expectations and aspirations of their people, noted financial analyst Moussa Al Mauritani.Libya already has a strong financial presence in Moroccan housing, tourism, hotels and fuel distribution. The outlook for reciprocity is good, he said.”The signs are very promising,” Al Mauritani added. The visiting Libyan delegation included the presidents of the management boards of the professional chambers of the cities of Tripoli and Sebha, representatives from the public organisation for development, investment and privatisation, along with several Libyan businessmen.