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The Tripoli based Libyan Ministry of Economy and Trade organised a workshop Thursday on developing the marine wealth sector (fisheries) and its role in achieving economic diversification.

Led by the Ministrys Undersecretary for Commercial Affairs, Suhail Abu Shiha, several relevant department heads, and representatives from the Marine Biology Research Centre, and the African Development Bank, participated.

The workshop participants followed a visual presentation on the methodology used to prepare the sectoral development policy, the networking mechanism with relevant sectors, and the projects targeted for the development of the marine wealth sector, which are based on:

Economic diversification plan During the workshop, the Undersecretary revealed that his Ministry of Economy and Trade is working on an economic diversification plan based on developing sectoral policies in coordination with relevant ministries and bodies, stressing the need to begin executive steps to develop a marine fishing port so that it becomes a model to be implemented.

Strengthening of the role of the private sector It was also revealed that the Minister of Economy and Trade directed the strengthening of the role of the private sector in implementing investment projects in the marine wealth sector through the Chambers of Commerce, Industry and Agriculture and the Libyan Business Council (LBC).

Call on African Development Bank to contribute to financing targeted investment projects The ministry also called on the African Development Bank to contribute to financing targeted investment projects in the sector through the both the local and foreign private sector, under the supervision of the Ministry of Economy and Trade.

Expanded meeting for further action The workshop activities concluded with the start of preparations for an expanded meeting that includes the Ministry of Economy, Trade and Marine Resources, the Chambers of Commerce, Industry and Agriculture, the LBC and the African Development Bank to study the fisheries development project and develop an executive programme.

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Economy Ministry workshop on developing fisheries sector and its ... - Libya Herald