Minister of Economy and Trade Mohamed Al-Hawij met with Deputy Director-General of the World Trade Organization (WTO) Tshung-Cheng Shin on the sidelines of the WTO Ministerial Conference in Abu Dhabi, UAE.
During the meeting, Al-Hawij discussed Libya's accession to the WTO and the potential benefits, particularly regarding trade facilitation.
Al-Hawij highlighted the Ministry's ongoing efforts to develop trade policies in line with recent changes in international trade systems.
He pointed to implementing several economic and trade reforms in Libya, including updating the Libyan Investment Law, the Free Zones Law, the Transit Trade Law, and the Economic Diversification Strategy.
The Minister stressed the importance of harnessing Libya's resources and strategic geographical location on the Mediterranean Sea to become a significant international trade corridor between African and European markets.
For his part, Shin expressed commitment to assist Libya with trade facilitation, goods, and services, and clarifying WTO agreements, affirming their team's readiness to communicate with the Ministry's representatives.
The WTO is the largest international economic organization in the world, with 164 member states representing over 98% of global trade and world commercial GDP.
