The Libyan Business Council reported yesterday that, in response to an invitation extended by the Head of the Export Development Department in the Indonesian province of Java to the Chairman of the Libyan-Indonesian Business Council, a cooperation agreement was signed last Tuesday (20 October) in the city of Semarang.
The agreement aims to facilitate trade between the two nations and foster direct cooperation between private-sector companies from Libya and Indonesia.
The signing ceremony was attended by business leaders from both countries. Additionally, bilateral B2B meetings were held between Libyan and Indonesian firms, focusing on export and import opportunities and the establishment of direct commercial ties.
The LBC said the Central Java region—which includes the city of Semarang—serves as a key industrial and export hub in Indonesia. It offers a diverse range of export-ready products, including textiles, ready-made garments, footwear, furniture, wood products, food items, and marine products—all of which present significant opportunities for trade with the Libyan market.
The signing of this agreement follows the outcomes of the Libyan Business Forum, held on October 16th on the sidelines of the Trade Expo Indonesia in Jakarta.
Signing of 12 letters of intent for commercial deals valued at US$ 1.8 m
That event saw the signing of over 12 letters of intent for commercial deals valued at more than 1.8 million US dollars, in addition to direct meetings between Libyan and Indonesian companies to explore opportunities for trade and investment cooperation.
Through the Libyan-Indonesian Business Council, the LBC said it continues to follow up on the forum’s results and the understandings reached. It is working with Indonesian economic entities and institutions to facilitate communication between companies, develop opportunities for trade exchange, and transform the letters of intent into actionable commercial agreements.