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An official at the Tripoli based Libyan Ministry of Economy and Trade revealed in an exclusive interview with Libya Herald that there are over 25,000 e-stores, including stores of well-known brands and stores of a service nature in various specialties, operating in Libya without official registration and documentation.

He estimated the volume of transactions of these e-stores in the hundreds of millions of dinars and confirmed that they operate in the shadow economy.

The revelation was made by Samir Al-Tarmal, Director of the Capacity Development Centre of the Libya Trade Network.

Al-Tarmal was speaking to Libya Herald last Thursday on the margins of the workshop organised by Ministry of Economy and Trades Libya Trade Network entitled Regulating the Work of e-stores in Libya. The workshop aimed to establish the regulatory framework for e-stores with the launch of an e-platform for registering electronic stores in Libya called Maothooq (trusted).

Maothooq platform to legalise e-commerce in Libya Al-Tarmal said that the centre provides advanced programmes in the field of e-commerce by supporting the capabilities of institutions related to e-commerce within the decisions and regulations issued by the government to organize and register stores within the Maothooq platform. He said permission is granted to practice an official and legal commercial activity within the framework of regulating the work of e-stores in Libya on the one hand and protecting the consumer on the other hand.

Therefore, registering on the Mawthooq platform will have a positive impact on e-store owners in particular and the Libyan economy in general, he added.

Advantages of registration: connectivity with shipping and e-payments Regarding the advantages of registering on the Maothooq platform, Al-Tarmal said the Maothooq platform offers advantages to those registered on it, including providing connectivity with shipping and delivery services, in addition to providing connectivity with electronic payment services available from Libyan banks and financial services companies.

Unregistered companies barred from banking services In this regard, he revealed, it was agreed with the Central Bank of Libya that commercial banks and financial services companies were to provide e-payment facilities only after e-stores registered on the Maothooq platform. He agreed that the Maothooq platform will only register licenced e-stores.

Role of the Libya Trade Network On the other hand, also speaking exclusively to Libya Herald and on the margins of the same workshop, the Chairman of the Libya Trade Network, Ahmed Al-Darwish, said the Libya Trade Network provides various facilities for commercial operations. It provides the appropriate legal climate for them, including decisions and regulations regulating transit trade, regulating electronic stores, providing solutions, and issuing local prices for goods and other matters.

Guarantees rights of shop owners and consumers Regarding the Maothooq platform, and the importance of registering on it to practice e-commerce, Al-Darwish said that the platform guarantees store owners legal protection and legal activity. This requires following the steps and registration mechanism to obtain a practice permit in accordance with the decisions and regulations governing the work of e-stores.

High security and protection Al-Darwish stressed the necessity of registering on the Maothooq platform for all e-stores, whether for individual activity or licensed companies, because it guarantees them a high level of security and protection from fraudulent operations, and in return, it protects the consumer with goods and products of unknown origin, or corrupt and defective, and low-quality services.

Libya Trade Network It is worth noting that the Libya Trade Network, affiliated with the Ministry of Economy and Trade, was established by Cabinet Decision No. 681 of 2021. It is a government institution concerned with implementing and managing basic and important projects and programmes. It aims to organise and develop the Libyan trade sector to keep pace with international developments in the field of digital trade and capacity building, and it claims it is the reliable source of trade data in Libya. It aims to achieve an accelerated digital transformation of the Libyan trade sector, and to facilitate and develop foreign trade in Libya.

Two e-stores were registered at the workshop The workshop included the participation of two e-store owners who registered on the Maothooq platform, and who were granted permission to practice e-commerce by the Libyan Trade Network, namely Taha Store and Zanomy Store. They were ceremoniously given permission to e-trade by the Minister of Economy and Trade Mohamed Hwej after they completed the registration process live on screen at the workshop.

The workshop was held in the presence of the Minister of Economy and Trade, Mohamed Al-Hwej, and the head of the Libya Trade Network, Mohamed Al-Darwish, and with the participation of representatives of the Central Bank of Libya, the National Information Authority, the General Authority for Communications and Informatics, the Libyan Post and Telecommunications Holding Company, Al-Madar Company, Libyana Company, Libya Post, and Libya Phone, and several financial services and electronic payment companies in Libya.

Organising the Work of e-stores workshop launches government e-commerce platform (libyaherald.com)

Libya E-Commerce Exhibition, Tripoli 1 to 3 August (libyaherald.com)

Libya e-Commerce Expo 2021 1 to 3 August (libyaherald.com)

Libya e-Commerce Expo 1-3 August, Tripoli (libyaherald.com)

Libyan Islamic Bank and Dokkan sign e-payment agreement (libyaherald.com)

ATMs and e-payments in Libyan shops and businesses set to grow (libyaherald.com)

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Over 25,000 e-stores with turnover in hundreds of millions operating ... - Libya Herald

The Turkish presidency forwarded a motion yesterday to the presidency of the Parliament to extend the deployment of Turkish forces in Libya for a further 24 months, from next January 1st until 2026.

According to Ankaras state-owned news agency Anadolu, the motion signed by Turkish President Recep Tayyip Erdogan underlines the great importance for Turkey of the continuation of the ceasefire and the political dialogue process in Libya, as well as the establishment of peace and stability as a result of this process.

The motion states that in the event of a resumption of attacks against the legitimate government, i.e. the Tripoli-based government led by Prime Minister Abdul Hamid Dbeibeh, Turkeys interests in both the Mediterranean basin and North Africa could be negatively affected .

The motion therefore states that preventing the resumption of conflicts is important to ensure the conclusion of military and political negotiations conducted under the auspices of the United Nations.

The mandate first came into force in January 2020 following a security and military agreement that Turkey reached with Libyas former Government of National Accord in Tripoli. It was then extended by 18 months in December 2020, and again in June 2022.

Turkeys support for the Tripoli-based Government of National Accord helped turn the tide of war in Libya. Turkish military assistance including advisors, equipment and intelligence helped block a year-long military campaign by the Libya National Army (LNA), led by Field Marshal Khalifa Haftar, which sought to gain foothold in the capital.

Ankara has been accused of sending thousands of Syrian mercenaries to Libya.

Turkey at the time also signed a controversial maritime agreement with the Tripoli government, giving it access to a contested economic zone across the eastern Mediterranean Sea. The deal added to tensions in Turkeys dispute with Greece, Cyprus and Egypt over oil and gas drilling rights.

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Erdogan signs motion to extend Turkish troop presence in Libya ... - Libya Update

The Italian multinational energy company Eni and the Libyan National Oil Corporation (NOC) discussed the exploratory programs planned for 2024.

In a statement via Facebook, the NOC said its Exploration Department held a meeting with officials of the Italian company Eni, to discuss the companys exploration activity in 2023 and the exploration programs expected in 2024.

The meeting was attended by specialists and technicians from the NOCs Exploration Department, the exploration manager of Eni in North Africa and some specialists from its headquarters in Tripoli, as well as specialists from the British BP and the Libyan Investment Authority (LIA).

In particular, during the meeting, the results of the exploratory activity in 2023, the projects proposed for implementation in 2024 were discussed. The meeting aims to coordinate efforts between the National Oil Corporation and foreign companies participating in Libyan exploration activities, to ensure maximum benefit from Libyan oil resources.

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Talks between Italy's Eni and Libya's NOC on exploration programs ... - Libya Update

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News Headlines, Sunday, November 26, 2023 - The Libya Observer

The Chairman of the state National Oil Corporation (NOC), Farhat Bengdara, hosted Tuesday at the NOCs Tripoli headquarters, several members of the NGO, the Libyan Economic Salon. The NGO is made up of several influential members of Libyan society interested in economic reform, including businessmen and experts in the fields of management, economics and law.

The meeting discussed several topics related to the oil sector, most notably the NOCs strategy for development, increasing production rates, and the possibility of financing the oil sector from outside the state budget.

In an exclusive interview with Libya Herald, the Executive Director of the Economic Salon and Professor of Accounting at the Academy of Graduate Studies, Dr. Abu Bakr Abu Al-Qasim, said that several files were raised during the meeting.

A comparison of the NOC with other models The most important of which was the current model of the NOC and comparing it with other models such as Saudi Aramco, Sonatrach of Algeria, or Statoil of Norway. In particular, what distinguishes these international models from the Libyan model, and the possibility of restructuring the NOC and its subsidiaries to transform them from cost centres to profit centres so that they have independence and are capable of financing themselves without waiting for budgets from the state.

State oil companies have no profit and loss Abu Al-Qasim and the members of the salon regret that the NOC and its subsidiaries are nothing but cost units with no ownership of assets and liabilities, without profit and loss accounts. He said budgets are allocated to them and the impossible is asked of them despite their legal name being companies, but in reality, it is as if they are not a company but an institution or an administrative body or unit affiliated with the government and funded by the government with government budgets.

No financial independence from the state This, Abu Al-Qasim continued, made the state oil companies limited in their powers, and their relationship with the legislative and executive authorities did not grant the independence granted to many of its counterparts in countries around the world. Therefore, he explained, they operate only as a department in the government to which budgets are allocated, and they are not financially independent or based on profit and loss, even though by law they have independent financial liability. However, they manage their funds within the limits of government budgets allocated and subject to the oversight of the Audit Bureau and the government. Therefore, the salon members proposed the necessity of changing the model to ensure proper workflow, development and monitoring.

More transparency requested from Brega Bengdara responds positively Abu Al-Qasim referred to the request submitted by the Salon to the NOC regarding obliging it and its subsidiaries, especially the Brega Oil Marketing Company, to publish all statements and information about production and the share of the foreign partner. This would include marketing and barter data, prices, revenues, expenses, and allocations for fuel products and gas for each sector: electricity, industry, cooking, private and public transportation, etc., to increase transparency and openness to society. In a positive response, Bengdara agreed to the request, the Abu Al-Qasim reported, instructing the administration to publish information on a daily, monthly, and quarterly basis.

Fuel supplies accounted on a barter basis Regarding the method of bartering or reserving the value of fuel supplied at the source without transferring the value to the governments account in the Central Bank of Libya, which may represent 30 percent of production, and in return, buying fuel through allocations that are not provided in the general budget, Abu Al-Qasim said that Bengdara reported that the problem is in the existing political division.

To avoid fuel shortage chaos Bengdara said, he revealed, there is no approved budget for the Tripoli based government by the House of Representatives that enables the Central Bank of Libya to allocate money to import fuel. The NOC and Brega Company have two options, he said: create a crisis and chaos during the disappearance of fuel or take measures. The alternative may not be in line with the law, and the second was chosen since September 2021 so as not to cause chaos as a result of the cessation of fuel imports, Bengdara said.

Bengdara wants to end fuel barter system Bengdara confirmed that the NOC wants to get rid of this burden imposed on it by the political circumstances and the state of division in the country, meaning that they entered into the barter process under duress, due to the Libyan reality, the head of the corporation requested, in a letter to the head of government, that it undertake this task of supplying fuel, out of their desire to get rid of this burden.

Fuel subsidy reform needed urgently Regarding the quantities allocated for subsidies, which may represent 30 percent of oil production, the costs exceeded 13 billion dollars during this year.

Abu Al-Qasim said, It was agreed that this file should be addressed as quickly as possible, as it represents a drain and a source of theft, smuggling, and irrational extravagance with this bill, which is paid by the entire Libyan people.

Cost of extraction of Libyan oil will decrease with increased production Regarding the lack of budgets and the necessity of involving the private sector in order to finance from outside public budgets, Abu Al-Qasim confirmed during the meeting that Libyan oil costs $16 per barrel, while Saudi Arabia, for example, costs $9 per barrel. This is due to the large difference in quantities between the two countries. Therefore, when production increases to the level of 2 million barrels, we can move the cost from $16 per barrel to only $10 per barrel as a result of increasing this amount for each barrel extracted to cover the costs of production, operation, and investment spending.

Marginal wells to be offered to the private sector The head of the NOC also reportedly said that they have a ready plan to open marginal wells (marginal fields) for the Libyan private sector in order to build local expertise for the private sector in the oil sector, whether Libyan sector companies or through partnerships with foreign companies.

45 projects at US$17 billion agreed for increased oil production: But how? The meeting also discussed the NOCs plan to increase production to 2 million barrels per day and invest in 45 projects at a cost of $17 billion. The plan was approved by the government, and the corporation is still negotiating with the government regarding the financing process for this, whether it is funding from the government and alternatives to financing from outside the states general budget or shared between them.

Roundtable to be organised for further discussion In conclusion, Abu Al-Qasim revealed the proposal submitted by the Chairman of the NOC regarding organising a round table that includes the legislative and executive authorities, the NOC, Brega Oil Marketing Company, and fuel distribution companies, along with contractors and members of the salon.

The roundtable will also raise awareness of what was presented during the smaller meeting with the NOC and to suggest solutions, especially with regard to the NOCs financing model for its projects, and the role of the private sector, and the current topic of replacing subsidies.

The Economic Salon It is worth noting that the Economic Salon is a civil society institution, that started off as a virtual space (a WhatsApp Group) in a state of dialogue that deals with everything related to economic affairs.

The Salon includes more than 200 members from various fields parliamentarians, executives, former ministers, academics, and consultants in various specializations of administration, law, accounting, industrialists and businessmen. Bengdara was also a member.

The goal of the salon is to engage in dialogue and propose economic solutions to get the nation out of its crises, as it believes that the common denominator of all conflicts is that reforming the economic system is the engine of salvation for this country.

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NOC chairman Bengdara hosts the influential Economic Salon ... - Libya Herald