Japan and Libya strengthen economic ties at Second Forum｜Arab News Japan
TOKYO: The Second Japan-Libya Economic Forum was held on July 9 to discuss the future of bilateral cooperation based on the theme The Forefront of Libya’s Rebuilding and Growth: Economy, Energy, and Expectations for Japan.
The event was co-hosted by the Japanese Foreign Ministry, the Ministry of Economy, Trade and Industry, and the Sasakawa Peace Foundation. The forum
ONISHI Yohei, Parliamentary Vice-Minister for Foreign Affairs, delivered the opening remarks. Furthermore, the Ministry of Foreign Affairs provided an analysis of the business environment in Libya, specifically addressing the bilateral relationship between the two nations as well as recent political and security developments in Libya.
In his remarks, Onishi highlighted Libya’s economic potential with the largest oil reserves in Africa, and, taking into account the current situation in the Middle East, noted its significance as a market.
He stated that Libya is making progress toward unification and that there are signs of improvement in the security situation, and he expressed the importance of further strengthening relations between the two countries.
Furthermore, Onishi expressed his expectation that this forum would serve as an opportunity to further develop bilateral economic relations.
Japan’s Foreign Ministry provided an analysis of the business environment in Libya, specifically addressing the bilateral relationship between the two nations as well as recent political and security developments in Libya.
Suhail Abdulmuttalib Abushiha, Libya’s Minister of Economy and Trade, provided an overview of the current investment climate in Libya.
He discussed the situation regarding foreign companies currently operating in the country and expressed his appreciation for the participation of many Japanese companies.
He also conveyed clear expectations for the re-entry of Japanese firms into the Libyan market.
Energy security was a major focus of the discussions.
Khalifa Rajab Abdulsadeq, Minister of Oil and Gas, and Masoud Suleiman, Chairman of the National Oil Corporation, detailed the prospects of the oil and gas sector, which currently accounts for more than 60 percent of Libya’s GDP.
The Libyan delegation included Ahmed Alnaas, Chargé d’Affaires ad interim of the Embassy of the State of Libya in Japan.
Aseel Artima, Chairman of the Renewable Energy Holding Company, Bashir al Ashhab, Chairman of the Greenstream Company, and Yasin al-Abiad, Director General of the Libyan Economic and Social Development Fund, also attended.
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