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Home Business

An olive oil industry can diversify the economy and earn foreign currency: Head of SME programme

byIbrahim Senusi
March 16, 2023
Reading Time: 3 mins read
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An olive oil industry can diversify the economy and earn foreign currency: Head of SME programme

A Libyan olive oil industry can help diversify the economy and earn hard currency, the Economy Ministry said at Libya's First Olive Oil Competition (Photo: Economy Ministry).

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Speaking exclusively to Libya Herald, the Director General of Libya’s National Programme for Small and Medium Enterprises, Abdel Nasser Abuzaqia, said that a Libyan olive oil industry can help diversify the economy and earn hard currency.

Abuzagia was speaking at Libya’s First Olive Oil Competition ceremony on Tuesday held in Tripoli also attended by (Abuzagia’s boss) the Minister of Economy and Trade, Mohamed Hwej under the slogan ‘‘Our oil is good and a blessing’’.

Continuing, Abuzagia added that the establishment of this competition for the best olive oil in Libya comes to support entrepreneurs and project owners, and to urge care for the olive tree, whose oil production must have a place in supporting the economy and national income by exporting abroad.

National plan to support olive growers
He referred to the development of a national plan in cooperation with the Ministry of Economy and the Ministry of Agriculture with the Ministry of Industry to support farmers and agricultural projects in the field of interest in the olive tree. The plan also supports the development of olive presses with the establishment of various industries on what is extracted from the olive fruit. In addition, the plan also requests the transfer of technologies and knowledge from a developed country in this important industry, which forms part of the national income tributaries.

20 million olive trees targeted
Abuzagia noted that the approximate local statistics confirm that there are more than 8 million trees in Libya. He said the Ministry of Economy in cooperation with the Ministry of Agriculture is aiming to reach the cultivation of more than 20 million olive trees of various varieties that are appropriate to the Libyan climate with higher production in a less supportive time. to the national economy.

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Specialist committee chose winners
Regarding the criteria for evaluating the participants in the competition, Abuzagia stressed the setting of specific controls, conditions and criteria for evaluating the quality of common olive oil. This came through a committee composed of specialists in the field of examining, testing and tasting olive oil. The best samples from tens of samples were chosen from participants from different Libyan cities.

It is noteworthy that the top ten participants in the award were honoured with cash prizes, where the first-place holder received LD 10,000, the second place received LD 7,500, the third received LD 5000. Those ranked from fourth to tenth received LD 1,000 dinars each.

 

First National Olive Oil Prize launched (libyaherald.com)

Libyan olive oil from Gharian wins two international prizes during May (libyaherald.com)

Libya’s Libico olive oil from Gharian wins another international prize (libyaherald.com)

Libyan olive oils win prizes at Berlin awards – plans to increase production | (libyaherald.com)

Libico olive oil exported to Italy | (libyaherald.com)

Libyan Export Promotion Centre discusses with Italian Chamber export of olive oil, dates and tuna to Italy and Europe | (libyaherald.com)

Libya organizes non-oil exports conference – Tripoli, 16-17 March | (libyaherald.com)

Libya considering allowing fish exports to EU | (libyaherald.com)

Libyan dates exported to Morocco through Benghazi port | (libyaherald.com)

Libya takes first steps towards exporting fish to Europe | (libyaherald.com)

Oil and olive oil fair opens in Tripoli | (libyaherald.com)

Never mind the oil, what about the olive oil? | (libyaherald.com)

Eighth Libyan Dates and Associated Industries exhibition opens in Tripoli | (libyaherald.com)

 

Tags: Olive oil prize competition
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