The Tripoli Chamber of Commerce, Industry and Agriculture has 150 years of history, being one of the oldest chambers in the Arab countries. From then on, this institution has become a vital component of the national economy of Libya, situated in the Southern Mediterranean coast and the North Africa. Throughout this long period, this institution has contributed to strengthening the role of the private sector in the economic and the commercial activity in Libya, helping the local companies grow and explore new business opportunities. In addition, the Tripoli Chamber of Commerce, Industry and Agriculture has played a key role in promoting cooperation among all the Mediterranean countries as a basis for achieving peace and stability in all the region. We reflect on all these issues in the following interview with Mr. Zuher Gamra Elorfi, Coordinator of International Relations and Cooperation at the Tripoli Chamber of Commerce, Industry and Agriculture.
The Tripoli Chamber of Commerce, Industry and Agriculture is one of the oldest chambers in the Arab countries. In your opinion, what are the main milestones achieved by the institution during its long history?
Our chamber of commerce, with a history spanning 150 years, has grown to become a vital component of the national economy. From its foundation, the Tripoli Chamber of Commerce has contributed to strengthening the role of the private sector in economic and commercial activity in Libya, and it is always trying to address the difficulties facing by the chamber’s members at all levels. Our main objective is to respond effectively to the local companies interests as well as helping them in seeking synergies with the public and private sector, exploring new international markets and developing the legislation required for business. Through the Affiliate Services Center, which was created two years ago, we connect our members with other companies and institutions to achieve collaboration agreements, apart from giving them the opportunity to participate at specialized exhibitions and forums to do networking, attend insightful debates and dive into new trends linked to their sectors.
Many international businesses and companies operate in Libya. What are the main investment opportunities in Libya? Why now is the best moment to invest in Libya?
The oil sector and alternative and renewable energy are among the most important investment areas currently available, as well as real estate and tourism investment. The time is always right to invest in Libya.
What about entrepreneurship in your country? Is it also a good moment to set up a business project?
In Libya we have an entrepreneurial ecosystem which contributes to foster economic growth, create new job opportunities and generate prosperity. In addition to launching new products and services, entrepreneurial activities support innovation and are capable to effect social change. In the case of Libya, entrepreneurship has an impact on the country’ stability. Our chamber of commerce is in contact with start-ups and SMEs to help them promote new business projects and, at the same time, encourage the transfer of knowledge and innovation.
What needs and inquiries do local companies usually ask you?
Their main inquiries are related to administrative procedures, apart from their integration into the fields of investment, export, and foreign commercial activities. We provide information services to all our members, and we redirect them to other institutions if necessary. For instance, they usually ask us about the partnerships and the agreements that we achieve with other institutions, such as the recent agreement with Italy to boost trade exchange between the two countries. Regarding this, both parties were committed to organizing a central business forum, in addition to the Tripoli International Fair. All these events are a great opportunity to explore new business opportunities in different sectors, not only in Libya, but in other countries as well.
What is the chamber’s contribution in fostering cooperation in the Eastern Mediterranean?
The Tripoli Chamber of Commerce, Industry and Agriculture has many agreements and memorandums of understanding with most of the parallel chambers and institutions in the Mediterranean Basin and with neighboring countries. This cooperation contributes to advancing the economy and trade and helps in the growth and prosperity of the region. For instance, we jointly implement sustainable development initiatives that enhance the overall economic cycle and contribute to global peace and security. There are no projects in which the chamber participates. Rather, the chamber’s role, according to Libyan legislation, is to support projects and encourage CEOs to undertake projects that contribute to advancing the economy and development in Libya.
What is your institution’s commitment to the sustainable transition in the country? What kind of sustainable initiatives are you promoting?
Sustainability opens the doors for companies to achieve competitive advantage through their firm commitment to responsible environmental and social practices. By increasing awareness of the importance of preserving the environment, the Tripoli Chamber of Commerce opts to deal with companies that embrace the Sustainable Development Goals (SDGs) adopted by United Nations.
Sustainability opens the doors for companies to achieve competitive advantage through their firm commitment to responsible environmental and social practices. By increasing awareness of the importance of preserving the environment, the Tripoli Chamber of Commerce deals with companies that embrace the Sustainable Development Goals (SDGs) adopted by United Nations
What support does your chamber give to the agricultural sector and farmers, one of the most important in the country’s economy? In your opinion, what are the main business opportunities in the agrifood sector?
The agricultural sector enjoys tax exemptions and other fees, including membership fees to the chamber to encourage this sector and farmers to grow and rely entirely on local agricultural output. This includes agricultural food, as recent years have witnessed the establishment of many food industries based on agricultural products, which has limited the import of these goods.
Finally, what is the impact of current conflicts and geopolitics situation on the Mediterranean region? What are the main keys to face this context?
We are against all types of current conflicts, which will ultimately lead to stopping the wheel of development and prosperity. The main key to confronting this context is to move away from these conflicts by focusing on the economic and commercial aspect, as well as developing the role of the chambers of commerce to create a state of regional peace. All the Mediterranean chambers of commerce play a crucial role in contributing to the stability and the peace in both shores of the region.