Cooperation agreement signed between the Libyan African Business Council and the Indian Economic Trade Organization – ThePrint


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New Delhi [India], July 2 (ANI / SRV Media): The Indian Organization for Trade and Economy signed a memorandum of cooperation with the Libyan and African Business Council in Tunisia during the Financial Investment Trade Africa (FITA 2021) which took place is held in Tunis on June 25.

The MoU largely focuses on deepening the engagements between the business structures of the two countries and will work closely in the area of ​​IT development, healthcare, MRO support in the aerospace sector and will support academic institutions in working with the Indian skills sector. The Libyan side suggested hosting the Libya-India Business Forum in November 2021, in Tripoli.

“It is indeed a matter of pride for us to revive the India-Libya relationship which was initiated by the new unified interim executive authority in Libya. And we will ensure that we meet the security needs and contractual requirements of Indian businessmen who want to explore opportunities in Libya, ”said Muhamad Eawn, vice president of the Libyan African Business Council. The Libyan side has expressed an immediate need for health professionals in Libya. They are very optimistic about the December elections which will see many new development opportunities for the country.

Indian Economic Trade Organization supports various South Indian MSMEs and has expressed desire to open new markets especially in South Indian agricultural machinery and supply of medicines, FMCG products and of food processing technologies from India.

“The opportunities in Libya are huge and we will be working quickly with the Indian government to understand the regulations needed to work with Libya. We will work to improve those interpersonal relationships which can facilitate trade in the current scenario, ”said Dr Asif Iqbal, President of Indian Economic Trade Organization when signing the MoU.

Union Minister Kiran Rijiju was on an official visit just months after the civil war to restore diplomatic relations with Libya and he met with senior Libyan leaders during this time.

During the summit, a delegation from the Indian Trade and Economic Organization also discussed various opportunities with the Ministry of Foreign Affairs in Tunisia, the Libyan ministerial delegation and the Indian Ambassador to Tunisia Puneet Roy Kundal IFS, who is simultaneously accredited in Libya.

A delegation of Indian businessmen will travel to Libya in November to explore business opportunities after obtaining the necessary approvals and permits from the Indian government. Since there are travel restrictions on certain categories given the security and safety concerns in Libya.

This story is provided by SRV Media. ANI will not be responsible for the content of this article in any way. (ANI / SRV Media)

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