Libyan and Indonesian companies signed on Friday, April 25, nine memorandums of understanding (MoUs) to enhance economic cooperation between the two countries.
The signing ceremony took place as part of Indonesia’s participation in the 51st Tripoli International Fair.
Both sides held a business meeting attended by six Indonesian entrepreneurs affiliated with the Indonesian Employers Association (APINDO) and the Indonesian Exporters Association (GPEI) of Central Java together with Libyan entrepreneurs from various sectors.
The MoUs cover trade cooperation commitments for various Indonesian flagship products, such as snacks, coffee, herbal remedies, paper, footwear, and rattan and wood-based furniture, demonstrating the strong interest from Libyan companies in Indonesian products, known for their high quality and competitive prices.
This event reaffirms the positive trend in Indonesia-Libya economic relations amidst Libya’s increasingly stable and business-conducive security situation.
"The business meeting and the signing of nine MoUs demonstrate the vast market opportunities in Libya for Indonesian products. We hope these agreements will foster sustainable business relations and boost Indonesia’s exports to Libya and the wider North African region." Chargé d’Affaires a.i. of the Indonesian Embassy in Tripoli, Dede Achmad Rifai, stated.
Indonesia’s active participation in the 51st Tripoli International Fair and the successful business meeting reflect a strong commitment to strengthening bilateral ties between Indonesia and Libya, while expanding Indonesia’s market penetration in North Africa.
