Libya, Morocco sign trade agreement

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    Libya and Morocco have signed a partnership and cooperation agreement, aimed at strengthening trade, including export and import, between the two countries, a statement from the organization in charge of exports in Morocco, Maroc Exportation, said here Monday.

    The agreement, signed between ”Maroc Exportation” and the Libyan ”Centre for the development of exports”, followed the international trade fair held during the Ramadan fast in Casablanca.

    The statement indicated that the agreement, which will remain valid until 2016, also covers the holding of common trade fairs, the sharing of data, specific market surveys and training, as well as the promotion of business environment.

    Speaking after the agreement was signed, the managing director of ”Maroc exportation”, Zahra Moafiri, said that the protocol would improve the level of bilateral trade between the two countries; create an enabling environment for meetings between businessmen from the two countries to discuss trade cooperation opportunities and the possibilities offered for investments within the framework of their partnership.

    She disclosed that Libya had expressed the wish to benefit from the Moroccan experience, particularly in the domain of packaging, management of products, especially food products meant for export.

    The volume of trade between Libya and Morocco is described as “weak”, dropping by 40% over the past few years, from US$ 148 million in 1999 to US$ 88 million in 2005 before stabilizing at US$ 60 million in 2011.

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