Preparations for the second edition of the “Made in Libya” event, to be held in Niamey, the capital of Niger from 6 to 11 March 2023, are nearing completion, Ali Nuseer, the Executive Director of the Libyan Industry Union (LIU) told Libya Herald in an exclusive interview today.
He said the event will include the participation of dozens of Libyan manufacturers in various fields, sponsored by Libya’s Wahiba Industrial Holding Group and under the supervision of the Libyan Ministry of Economy and Trade.
Niger provides a huge opportunity
Nuseer said Libya’s geographical location and cost advantage on the one hand, and the impressive economic growth stats of Niger for 2022, (according to World Bank data), and what this neighbouring country represents in terms of an active and promising market for Libyan manufacturers to market their products, and what it means in various opportunities for the Libyan investor, the event provides a huge opportunity.
To this end and according to all the different advantages before us, it is necessary to benefit as much as possible from holding this event for the benefit of all parties, he added.
Niger event will provide foundation for future
Nuseer pointed out the importance of holding this event, especially after the success of the previous edition, held in Tunisia (November 2021) with local and international participation. because it lays the foundations for cooperation between Libyan manufacturers and investors on both sides.
International financing organisations will participate
Besides Libyan banks, regional banks and various financing agencies, there will be supporting agencies participating such as the Organization for Economic Cooperation and Development (OECD), the Islamic Development Bank, the International Finance Corporation, French Expertise, the US Pragma Foundation, and the European Union Mission.
Introducing Libyan products to Niger and its neighbours
the LIU executive said the event will promote and introduce different Libyan products and services of high quality and low cost, giving them high competitiveness. These products are produced in Libya in high enough volumes to satisfy domestic consumption and satisfy exports to Niger and its neighbouring African market.
Exports to open up transit trade
Besides increasing the profile of Libyan brands regionally and internationally and building bridges of communication between Libyan manufacturers and businessmen in Niger, the increase in trade and investment between the two countries will lead to the development of transit trade between the two countries towards the rest of the African countries. This will increase Libyan exports, opening horizons for new joint industrial investments with the contribution of various financing institutions.
In conclusion, Nuseer called on Libyan companies to contribute to this event by participating in it because of its good return on their industrial enterprises, increasing production, achieving common benefits, and raising the percentage of profits.
Call on the Libyan government to complete the road to Niger
To the Libyan government, he said he wished it would restart implementing the stalled road project to the Niger border, which would reduce the cost of transportation and develop the southern Libyan regions, especially the border areas, while providing job opportunities based on trade services.