MULTILATERAL AGREEMENTS
Although Libya is not a member of the World Trade Organization (WTO) and does not have an Association Agreement with the EU, commercial relations remain significant. In 2023, the EU was Libya’s main trading partner, accounting for 56.4% of the country’s total trade in goods, with a total value of €29.8 billion. Imports from the EU amounted to €22.9 billion, primarily in petroleum products, while exports to the EU totaled €6.8 billion, including agricultural products, raw materials, and machinery.
AGREEMENT ON ACCESSION TO THE AFRICAN EXPORT-IMPORT BANK (AFREXIMBANK)UNITED NATIONS CONVENTION ON THE JURISDICTIONAL IMMUNITIES OF STATES AND THEIR PROPERTY
In December 2024, Libya officially acceded to the founding agreement of Afreximbank, becoming the 53rd member of the pan-African financial institution. This accession aims to promote intra-African trade, support infrastructure development, and provide financial assistance to Libyan enterprises, facilitating access to African markets and contributing to the country’s economic diversification.
https://www.africaeaffari.it/africa-afreximbank-raddoppia-per-il-commercio-intracontinentale/
UNITED NATIONS CONVENTION ON THE JURISDICTIONAL IMMUNITIES OF STATES AND THEIR PROPERTYWORLD INTELLECTUAL PROPERTY ORGANIZATION (WIPO)
In September 2024, Libya signed the United Nations Convention on the Jurisdictional Immunities of States and Their Property. This agreement aims to protect Libyan state assets abroad from potential seizures or legal proceedings, thereby strengthening the country’s legal position in trade and international relations.
https://www.unisalento.it/documents/20152/181092/conv.+immunita+giurisdizionale+degli+Stati.pdf/3e06d80b-a72d-112c-ebc5-2c92c2bb0105?version=1.0
WORLD INTELLECTUAL PROPERTY ORGANIZATION (WIPO)
Libya has been a member of the World Intellectual Property Organization (WIPO) since 1976. This allows the country to participate in the international protection of intellectual property rights, facilitating cooperation with other member states and promoting innovation and creativity on a global scale.
https://uibm.mise.gov.it/index.php/en/i-partner/wipo