Tunisian, Algerian, and Libyan Employers’ Organisations Establish Cooperation Council
In a significant move to boost economic cooperation and integration, the Tunisian Confederation of Industry, Trade and Handicrafts (UTICA), the Algerian Economic Renewal Council (CREA), and the Libyan General Union of Chambers of Commerce, Industry and Agriculture have agreed to set up a cooperation council. The agreement was signed on July 22 in Algiers, following a series of consultations between the three organisations.
The council’s primary objective is to achieve global economic integration, strengthen the private sector’s contribution to development efforts, and promote economic and trade cooperation between the three countries. To achieve this, the council will focus on several key areas, including the organisation of business and partnership meetings, harmonisation of measures to facilitate trade and financial transactions, and the creation of a unified database accessible to economic operators.
The council will also target the development of high-value-added investment projects, particularly in border regions, and explore opportunities to launch major development projects in priority sectors and regions. Additionally, the council will work to optimise the use of logistical resources, encourage the stepping-up of land, sea, and air links, and ensure the integration of young people into joint investment projects.
The three employers’ organisations reiterated their call to speed up the creation of free trade zones and the establishment of intelligent industrial zones in border regions. They also underlined the need to make the most of the assets of border regions in terms of raw materials and conventional and renewable energy, in order to boost the competitiveness of companies and build their capacity to export to African and global markets.
The first consultative meeting between the leaders of Tunisia, Algeria, and Libya was held on April 22, 2024, at the invitation of President of the Republic Kais Saied. The decision to hold this meeting was made on the sidelines of the 7th Summit of the Heads of State and Government of the Member Countries of the Gas Exporting Countries Forum (GECF), held in Algiers, during which the three leaders agreed to hold regular tripartite meetings to pool resources and means for better development in the three countries.
This cooperation council marks an important step towards strengthening economic ties between Tunisia, Algeria, and Libya, and has the potential to drive growth, create jobs, and improve the standard of living for citizens in the region.
