The Libyan-Maltese Chamber of Commerce

“Our nations have reinforced their strong relationships over the last 40 years with a number of treaties such as the Treaty of Friendship, the Double Taxation Agreement and the Investment Protection Treaty which has greatly facilitated direct investment in the two nations,” Mr Micallef explains.

“In fact the Investment Protection Treaty is unique to Malta and Libya and many other countries would like to conclude similar agreements with Libya. This is strong evidence of the prime importance we have always given relations between our two countries,” he adds.

Malta currently has over 380 registered Libyan companies operating within its borders, while Libya has over 140 Maltese companies. These companies ran the gamut of sectors and are as diverse as pharmaceuticals and tourism.

“The Libyan-Maltese Chamber of Commerce is a direct result of these strong ties and was formed in November 1997 as a result of the foresight of men such as Mr Francis Gera and His Excellency, Dr Hend Abibaker Siala. The Chamber has always worked hard to facilitate business between our two nations and, since 1997, it has grown in stature and membership,” Mr Micallef explains.

The Chamber also maintains close ties with the Ministry of Foreign Affairs, Malta Enterprise and the Libyan Jamahiriya to learn of economic openings and to keep its members updated with the latest developments.
“We also have an office in Tripoli, and together with the assistance of Malta Enterprise, we are restructuring to give an even better service to our members,” Mr Micallef explains.

“Malta’s relations with Libya have continued to strengthen, with Malta’s President, H.E. Dr George Abela, recent participation in the 40th Anniversary celebrations of the Great Al-Fatah Revolution in Tripoli. In addition, Malta’s ambassador, Dr George Cassar, is also very well known within the business circles of the two countries and he has worked tirelessly to facilitate economic growth and cultural exchanges between our two nations,” Mr Micallef says.

However, while the economic exchanges are good, visas, long a barrier to rapid business and tourism growth, have become less of an issue today but the Chamber feels that there is still work to be done in this sector.
“We have urged increased co-operation between governments in this area. Given the huge contracts that develop in Libya, this is vital for local business that can take advantage of the opportunities these contacts create. Today there is also a vast amount of data available on the pattern of exchanges that the two countries can review to smooth out the issuance of such documentation. We would also like to see Malta take the lead in the EU on this matter,” Mr Micallef says.

“A new Libya is definitely emerging,” Mr Micallef states. “This Libya is firmly rooted in the 21st century and has Free Trade Zones, luxurious five star hotels and continuous investment in key areas of the country’s economy.”

“We would thus also like to see more and frequent expressions of goodwill between Malta and Libya. This revitalisation of our strong rapport can only bring increased economic benefits,” he continues.
With Malta’s EU membership, our nation has the opportunity to act as a facilitator between the Union and our Mediterranean neighbours. And, Mr Micallef notes, if Malta’s SME’s can forge alliances, they also have the opportunity to participate in some of the very large contracts that are prevalent in Libya.

There are still a wealth of untapped resources in Libya and the Libyan-Maltese Chamber of Commerce provides an excellent stepping stone for those that are looking to expand their horizons into this land of opportunity.