Algeria’s Minister of Foreign Trade and Export Promotion, Kamal Rezig, held an extensive meeting with the Governor of the Central Bank of Algeria, Salah Eddine Talab, to discuss ways of boosting exports towards the Libyan market.
Rezig and Talab, alongside Algerian exporters, deliberated on the challenges facing local manufacturers in making a stronger entry and expanding within the Libyan market. They also explored methods to facilitate the access of Algerian products through various supply chains, including land borders and sea freight services, underscoring the importance of diversifying export channels.
Trade exchange between Algeria and Libya rose to $65 million in 2021, with Algerian exports accounting for $59 million of that figure, compared to $31 million in 2018. In 2021, Tripoli and Algiers also announced a joint plan aimed at increasing bilateral trade to $3 billion within the next few years, reflecting significant ambition to strengthen economic ties between the two countries.