Tunisia-Tunisia and Libya sign MoU on creation of joint free economic zone in Ras Jedir

Tunisia and Libya inked a memorandum of understanding under which a joint task team will be created to conduct a study in order to create a joint free economic zone at Ras Jedir border crossing. The purpose is to facilitate transactions of Libyan businessmen and guarantee the efficient flow of goods between the two countries.

This  was signed Wednesday by Trade and Export Development Minister Fadhila Rabhi and Libyan Minister of Economy and Trade Mohamed Hwej, the Trade Ministry said.

Hwej underscored the significance of the private sector in both countries and called for consolidating its role in boosting commercial traffic.

He likewise stressed the necessity to ease administrative and financial procedures for Libyan businessmen and encourage investors to fund basic infrastructure projects.

The agreement is geared towards facilitating the movement of products between the two countries by removing all barriers and creating a joint work team in charge of developing a vision of food security and medication safety in both countries.

The memorandum even encourages businessmen to invest in basic infrastructure projects in both countries and permits the implementation of the agreement on mutual recognition of conformity and quality certificates.

Entry procedures for foreign goods imported by Libya via Tunisia will likewise be facilitated, in addition to the signing of a twinning agreement between the Libyan Competition Council and its Tunisian counterpart.