Business German economy hopes to revive trade relations with Libya

German economy hopes to revive trade relations with Libya

-

Dhe German economy believes that if the Libyan conflict is resolved, economic cooperation with the country will improve significantly again. The head of foreign trade at the German Chamber of Industry and Commerce (DIHK), Volker Treier, said: "Libya once had the status of an important oil supplier for the German economy and was therefore an important trading partner on the African continent." Libya has since lost this status ,

"However, should the situation in Libya normalize again and the country decide to rebuild the largely destroyed infrastructure, Libya has the potential to grow back into an important partner of the German economy," said Treier. "The German economy has the technology and the know-how to rebuild the dilapidated and in many places destroyed infrastructure."

Treier said that German exports to Libya have almost completely ceased in recent years. In 2018, the bilateral trade volume amounted to 3.7 billion euros – of which German exports accounted for around 326 million euros. In the first ten months of 2019, German exports were increased by 27 percent, so that an export volume of around 360 million euros can be expected for 2019. According to DIHK, the German economy supplies machines and systems for petroleum exploration as well as urgently needed food and other medical products to Libya. German imports from Libya in 2018 consisted of 99.4 percent petroleum.

Federal government warns of too high expectations

Chancellor Angela Merkel (CDU) has invited to a Libya summit in Berlin this Sunday. She had been cautiously confident that there could be progress towards a negotiated solution for the civil war country. However, the federal government has also warned against too high expectations: the meeting is "important", but only "a start," said deputy government spokeswoman Ulrike Demmer on Wednesday. The "solution to all problems" could not be achieved within a day.

UN Secretary General António Guterres has called for broad international support for the Berlin Libya conference. He appealed to all UN member states and regional organizations to "firmly support the conference," Guterres said in New York. The UN Secretary-General will attend the meeting itself, which will seek ways to find a political solution for the civil war country.

Guterres called on the Libyan conflicting parties to "constructively" try to stabilize the current ceasefire. In Berlin it will be a matter of uniting the international community behind the goal of ending the armed conflict in the North African country and returning to a “political process”.

. (tagsToTranslate) Volker Treier (t) António Guterres (t) Ulrike Demmer (t) United Nations (t) Federal Government (t) DIHK (t) Revival

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Lisbon tips: these places don’t just meet other tourists

Madonna settled here when John Malkovich had been here for a long time, and it felt as if entire...

The EU Commission is fighting to raise debt for climate protection

Brussels The European dream has turned green: Never before has an EU Commission set itself such ambitious ecological goals....

Barça’s 1×1 against Granada

More dynamic in circulation and much more interested in possession. This is how Barça de Quique Setién appeared, who...

Must read

Lisbon tips: these places don’t just meet other tourists

Madonna settled here when John Malkovich had been here...

The EU Commission is fighting to raise debt for climate protection

Brussels The European dream has turned green: Never before...

You might also likeRELATED
Recommended to you