Misrata Chamber of Commerce (MCC) and Genoa (Italy) Chamber of Commerce, Industry, Construction, and Agriculture, signed a memorandum of understanding yesterday. The MoU aims to strengthen economic cooperation and expand partnership opportunities between the two sides. The signing took place during a working visit by a MCC delegation to Genoa.
In an exclusive statement to the Libya Herald, Abubaker Shanab, Director General of MCC said that the agreement is part of the MCC's strategy to expand its international network and connect the Misrata business community with influential economic and commercial centres in the Mediterranean region.
Strengthening Libyan Italian economic relations
The memorandum aims to develop cooperation and exchange expertise in the industrial, agricultural, and construction sectors, as well as support investment opportunities and trade partnerships between businesspeople and economic institutions in both cities. MCC said this will contribute to strengthening Libyan-Italian economic relations and opening new horizons for cooperation between the private sectors of both countries.
The agreement was signed on behalf of the Libyan side by Abdulmajid Al-Taher Balaou, Vice Chairman of MCC, and on behalf of the Italian side by the Chairman of the Genoa Chamber of Commerce, in the presence of several members of the accompanying Libyan delegation.
The MoU represents a significant step
During the signing ceremony, both parties affirmed that this memorandum represents a significant step towards building more effective and sustainable economic relations. It will contribute to launching joint projects, transferring modern technologies and expertise, and opening new investment channels that support economic development and enhance trade cooperation between Libya and Italy.
Translating agreements into action plans and joint projects
Continuing his exclusive statement to Libya Herald, Shanab explained that the memorandum of understanding with the Genoa Chamber of Commerce provides a practical platform for developing cooperation between businesspeople and economic institutions in both cities. He noted that the next phase will focus on translating the agreement's provisions into action plans and joint projects that offer real opportunities for investment, knowledge exchange, and technology transfer.
Gives Libyan companies promising opportunities to benefit from Italian expertise
He added that Genoa is one of the most important commercial and logistical centres in Italy, which gives Libyan companies promising opportunities to benefit from Italian expertise and expand their presence in European markets. He emphasized that MCC seeks to support the Libyan private sector and enhance its role in driving economic development and creating sustainable partnerships that achieve common interests.