Tripoli, Jan 28 (SocialNews.XYZ) Libya aims to reactivate and update 25 bilateral agreements with Serbia to strengthen economic cooperation, Libyan Economy Minister Mohamed Al-Hwej said.
Speaking at a joint news conference on Monday with Serbian Foreign Ministry State Secretary Nikola Stojanovic following a Libyan-Serbian economic forum in Tripoli, Al-Hwej described the agreements-signed over the past decade but largely dormant-as needing alignment with "global political and economic developments."
"Our cooperation with Serbia spans 70 years. Today, we seek practical steps to diversify Libya's economy and create true partnerships across all sectors," Al-Hwej said, adding that senior officials from both nations would exchange visits to advance joint ventures.
Libya, divided by civil conflict since 2011, has seen a fragile truce between eastern and western factions over the past year. The government has prioritised reviving foreign economic ties to offset reliance on oil, which accounts for over 90 per cent of state revenue, Xinhua news agency reported.
Stojanovic praised Libya's "progress toward stability" and expressed optimism for expanded trade, though he did not specify sectors for collaboration.
The one-day forum brought together businesses from both countries to explore opportunities in agriculture, energy, and infrastructure. No immediate deals were announced.
Libya's economy remains hobbled by political fragmentation, with GDP contracting by 10 per cent in 2023, World Bank data shows.
Earlier UNHCR has reported a sharp rise in the number of Sudanese refugees arriving in Libya, with daily arrivals reaching 400 and over 210,000 refugees now in the country.
The Sudan crisis has caused widespread displacement, straining resources in Libya, particularly in remote areas like Alkufra, where refugees face high food prices, fuel shortages, and poor living conditions.
UNHCR has provided lifesaving assistance, including healthcare, relief supplies, and support for documentation, while also strengthening access to local services.
Source: IANS
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