TbCo has agreed to pay an initial sum as a sign of good faith and to unlock the deadlock. The Joint Statement, Libya’s Ministry of Industry and Minerals said, expressed the desire of the two parties to enhance cooperation between the two countries. Can the thousands of stalled contracts and projects across Libya with tens of companies and countries be resolved following a similar formula? Do they consider Libya an important future strategic business partner or not – or will they move on to ‘‘easier’’ markets? The resolution of the TbCo-IVECO impasse seems to suggest that Italy does indeed view Libya as a strategic future partner across the mediterranean.

Source: Libya Today May 26, 2024 21:01 UTC