Libya Advances Talks With WTO For Economic Growth Through Full Membership

During the 13th World Trade Organisation (WTO) Ministerial Conference held in Abu Dhabi, Muhammad Al Hawaij, Libya's Minister of Economy and Trade, shared insights into Libya's aspirations to upgrade its status from an observer to a full member of the WTO. This move is aimed at fostering significant benefits for the Libyan economy. The discussions with the WTO mark a pivotal step for Libya as it seeks to integrate more deeply into the global trading system.

Al Hawaij, in his conversation with the Emirates News Agency (WAM), underscored the importance of this transition for Libya. He outlined that achieving full membership involves various critical stages and steps, notably the establishment of technical committees. These committees are tasked with evaluating how joining the WTO could positively impact Libya's economic landscape.

The Minister lauded the UAE for its role in hosting the conference, highlighting it as a crucial platform for discussing future global trade opportunities. He commended the efforts made by the UAE to facilitate this event, which plays a significant role in supporting the development of the WTO, especially in light of the challenges and opportunities presented by the evolving digital economy.

Al Hawaij also emphasized the timeliness and importance of the 13th Ministerial Conference in achieving tangible outcomes against the backdrop of current global developments. The conference serves as a strategic forum for member states to deliberate on ways to enhance global trade frameworks and adapt to new economic realities.

The dialogue between Libya and the WTO, as facilitated by events such as the Ministerial Conference in Abu Dhabi, represents a critical juncture for Libya. It underscores the country's commitment to engaging more comprehensively with international trade mechanisms and leveraging them for economic growth and development.

With inputs from WAM