Libya and the US have signed today a Trade and Investment Framework Agreement (TIFA) which establishes an American-Libyan Council for Trade and Investment to regulate all commercial matters between the two countries
Evidence is emerging of unregulated and probably illegal tuna fishing in Libyan waters during this year’s conflict.
The US and Libya signed a pact Thursday to facilitate trade and investment between the two nations, marking the latest step in the thaw of past hostilities. Corporate groups led by BP and Chevron called the deal "a milestone".
Informed sources say that, nearly a year after Lord Mandelson stepped down as European Trade Commissioner to return to the Cabinet, he has continued to push personally for a new and quick European Union (EU) trade deal with Libya.
Ukraine and Libya are interested in boosting bilateral goods turnover, Prime Minister Yulia Tymoshenko and Secretary of the General People’s Committee of Libya al-Baghdadi Ali al-Mahmudi said at a meeting of the Ukraine-Libya Cooperation Commission in Kyiv on Monday.
According to Mr. Hugues Mingarelli, officer in charge of the European Commission’s external relations, negotiations between the European Union and Libya in regards to an economic partnership agreement have “got off to a good start”.
The European Commission said it would begin negotiating an agreement covering political, social, economic, commercial and cultural relations with Libya once it has received the green light from the bloc’s 27 member nations.
The Science and Technology Cooperation Agreement is an important step in recognizing Libya’s renunciation of weapons of mass destruction, says the US State Department. It is a component of Washington’s efforts to promote peace and stability in the Maghreb and broaden US-Libya bilateral relations.
Morphing over the past several years from international pariah to developing, open-market economy, Libya is now actively cultivating trade and investment links with the US.
As the latest entrant into the Common Market for Eastern and Southern Africa (COMESA), Libya is a potential trade partner not only for Kenya but the COMESA regional economic bloc which Kenyan President Kibaki currently chairs
Libya is to become the second North African country after Egypt to join the Free Trade Area of the Common Market for Eastern and Southern Africa (Comesa). The implication is that exports from this oil-rich country will now have duty-free access to 13 other Comesa member-states that have so far signed on to the Free Trade Area arrangement.
Comoros and Libya have joined the Free Trade Area (FTA) of the Common Market for Eastern and Southern Africa (COMESA), the continent’s largest economic group.
The World Trade Organisation has given the green light for Libya to begin talks on becoming a member. The decision, which received US backing at a meeting in Geneva, is the latest sign of Libya’s rehabilitation in the international community.