First ‘transit trade’ trucks travel from Tunisian border to Misrata Free Zone
By Sami Zaptia.
London, 28 June 2021:
Misrata Free Zone announced today that the first convoy of goods-laden trucks arrived from the Libyan-Tunisian land border, Ras Ajdir – launching transit trade for the Zone. The convoy of trucks crossed escorted by customs guards.
MFZ did not name the goods being transported but revealed that the consignment was for Rouge Supply and Export, adding that it is the first foreign company licensed by MFZ to conduct transit trade.
MFZ said transit trade will achieve a set of direct and indirect gains for the Libyan economy, will raise the volume of intra-trade between Libya and neighbouring countries, in addition to achieving a set of benefits as another source of hard currency, and achieving development along the lines that it passes through in the future.
Gateway to Africa?
It will be recalled that Libya has been talking about developing ‘‘transit trade’’ as part of its plans to diversify its revenues away from hydrocarbons for decades. The dream is to become a, or the, transit trade ‘‘Gateway to Africa’’.
Recently, there have been discussions by Turkey to develop a transit hub in Misrata for transit trade to Africa as well as efforts by Algeria and Tunisia to increase transit trade with the sub-Saharan continent.