The new agreement, signed by the vice president of the Russian Chamber of Commerce and Industry, Vladimir Badalko, and the president of the General Federation of Libyan Chambers of Commerce, Muhammad Al-Raid, was finalized in Moscow. It aims to promote cooperation between businesses and investors in both countries.

The agreement outlines several key initiatives, including:

Information exchange: Sharing of economic and commercial data to facilitate mutual understanding of market opportunities and investment prospects.

Joint events: Support for organizing economic forums, conferences, and meetings to connect businessmen and investors from both nations.

Regular reviews: Holding periodic meetings to monitor cooperation progress and address any obstacles hindering common goals.

Strategic discussions: Exploring current and future avenues for bilateral cooperation between Russia and Libya.

This agreement comes as both nations seek to strengthen their economic partnerships amid challenging political circumstances.

The signing follows recent statements by Libyan officials emphasizing the importance of strengthening cooperation with Moscow in various sectors.