The U.S.-Libya Business Association (USLBA) held a virtual meeting with U.S. Special Envoy to Libya and Ambassador to Libya Richard Norland on November 16, to discuss the latest developments in Libya, the path to national elections, and measures to support US and other foreign investment while also cultivating a healthy business climate in Libya for the benefit of all Libyans. Central to the discussion, all parties emphasized the importance of preserving the unity of the oil sector, keeping it away from disputes, and attracting investment to strengthen the national economy.

Member firms of the USLBA are optimistic that long-term political stability will help expand economic links between the United States and Libya and achieve the immense potential of our nations’ relationship.

USLBA is grateful for the opportunity to collaborate with Ambassador Norland and the U.S. Embassy Libya External Office to strengthen our member companies’ long-term commitment to the Libyan people in their efforts to rebuild and diversify the Libyan economy, create jobs, and provide a sustainable future for Libya’s youth.

On May 20, the US-Libya Business Association (USLBA) and the American Chamber of Commerce in Tunisia (AmCham Tunisia) hosted a virtual conference to highlight investment opportunities in Libya, and to promote trilateral commercial relations between the United States, Libya, and Tunisia.

After introductions by USLBA Chairman, Mr. Mack Moore, and AmCham Tunisia President, Mr. Naceur Hidoussi, Libya’s Ambassador to the US, H.E. Wafa Bughaighis, and Tunisia’s Ambassador to the US, H.E. Nejmeddine Lakhal, shared hopeful messages for the future of Libya and seizing its potential in trade and investment with the US and the international market. Following these remarks, USLBA Executive Director, Ms. Lydia Jabs, moderated a panel featuring Ms. Mai Abdelhaim, President of General Electric International Markets North Africa; Mr. Assad Riyany, Head of Libyan Business at Bank ABC; Mr. Ahmed Ghattour, Representative of Crowe Global; Mr. Rafik Mzah, General Secretary of AfricInvest; and Mr. Adel Chaabane, Partner at Mazars. Ms. Rym Bedoui Ayari, the founder of BCo Consulting and Vice President of AmCham Tunisia, delivered the closing statement.

After noting the recent positive political developments in Libya, as well as economic reforms, the participants all emphasized that Libya is open for business. To that end, panelists identified key sectors for development in Libya, including: Infrastructure and Development, Healthcare, Education, as well as Energy and Power. The speakers shared their experiences and successes operating in Libya and exchanged strategies for conducting business in Libya, banking, managing foreign payments, and obtaining letters of credit.

As an output of this webinar, USLBA and AmCham Tunisia have organized 15 private sector discussions arranged to connect US, Libyan, and Tunisian companies. These meetings will take place virtually from May 24-28. AmCham Tunisia is also planning to organize a road show in Libya to further strengthen ties between Tunisian and Libyan companies.

Through the webinar and follow up meetings, the conference was designed to exchange ideas, opportunities and experiences, foster productive relationships between participants, and launch new joint ventures in Libya’s reconstruction process. We are excited about the outlook for trade and investment with Libya.

To access a recording of the event, please visit: https://youtu.be/hhcRBSWHtY8. For more information, please contact USLBA at information@us-lba.org or AMCHAM at executivedirector@amchamtunisia.org.tn

On March 10th, The U.S.-Libya Business Association (USLBA) had the opportunity to meet virtually with the Chairman of Libya’s National Oil Corporation (NOC), Mr. Mustafa Sanalla, to discuss the country’s progress towards reunification and the potential for further development of its resources and economy. USLBA congratulated Chairman Sanalla on his Anti-Corruption Champion Award by the US State Department and his commitment to improved business transparency and efficiency.