The Libyan Export Development Authority (LEDA) invites exporters and export company owners to a meeting to discuss the latest developments in the export sector, examine the challenges facing exporters in light of recent decisions to halt export operations, and hear their feedback and proposals regarding these matters.
The meeting is scheduled for Wednesday 14 October at the LEDA's Tripoli headquarters.
LEDA said the meeting reflects its commitment to maintaining direct communication with exporters and working toward practical solutions that help overcome obstacles, protect exporters' interests, and ensure the continued access of Libyan products to international markets.
Promoting exports v keeping prices low
As mentioned, the meeting comes in reaction to the Ministry of Economy's controversial decision to ban all Libyan exports and re-exports.
Unsurprisingly, the decision is very unpopular by exporters and is seen as draconian.
LEDA, a body established to promote exports is unhappy with the blanket decision.
The Economy Ministry sees the short-term decision as part of efforts to protect domestic consumer prices, reduce demand for the dollar, save hard currency reserves and defend the value of the Libyan dinar on the parallel market.
Many exporters that have invested time and money in developing export markets are seeking to obtain sector exceptions to the blanket ban.