Ghana-Libya restores trade and economic ties

Accra, Oct.10, GNA- Ghana and Libya on Friday restored their Permanent Joint Commission for Cooperation (JCC) meetings in Accra with a fresh commitment to lay the framework for effective trade and economic ties.

This year's, which is the Eighth Session, was the result of President John Agyekum Kufuor's recent visit to Libya that deepened the cooperation and laid the foundation for the restoration. The Session is held annually and the last meeting was in Tripoli in 1995.

Opening the Session, Nana Addo Dankwa Akufo-Addo, Foreign Minister said the restoration would set the pace for the integration of the economies of the two countries in a mutual beneficial relationship. He said the meeting would review the status of the joint implementation of the decisions reached during the last session that revealed modest achievements in the economic sectors of the two countries.

Nana Akufo-Addo said Ghana was poised to work with its Libyan counterparts specifically in the area of marketing of agro-food and wood processing adding, "Ghana is also ready to import quality products in which Libya has a comparative advantage especially in the petrochemical sector.

The Foreign Minister said the globalisation and trade liberalisation of the world today was posing great challenges to nations adding that there was the need for appropriate and strategic steps to be taken to address economic and trade issues among countries. Nana Akufo-Addo said there was an effective bilateral, regional and continental economic collaboration, which includes entities such as the JCC.

He said the re-opening of the JCC would translate the spirit of solidarity and goodwill that had characterised the political relations between Ghana and Libya into vibrant economic and technical cooperation through the pooling of resources for mutual benefits.

Professor Mohamed Taher Issiala, Assistant Secretary for Cooperation of the Committee for Foreign Liaison and International Cooperation who led the Libyan delegation, said the eight years stalemate was a result of the United Nations (UN) sanctions on Libya. He said this crippled Libya's relations with her sister nations especially Ghana, bringing a lot of difficulties in Libya's trade and economic relations as their airlines were stopped while international communications was also affected.

Prof. Issiala pledged the Libyan government's commitment in the development and the strengthening of its relations with Ghana and also for the African Union (AU).

"The Libyan Leader is putting in the framework, which will broaden the relations between the two countries, renew and review the past agreements such as the legal framework and cultural agreements between the two countries," he said.

He said in recent times, Libya had witnessed an upsurge in agricultural and industry development, which meant that such developments should reflect in the capabilities and co-operation of the two countries for mutual trade and economic benefits.

Prof. Issiala praised the government for recognizing the private sector as key in the development of its economy, saying "co-operating with the private sector is very important because of globalisation and liberalization.