Moroccan-Libyan plant to meet 60 percent of Libya's market need in cleaning products

A joint Moroccan-Libyan plant, inaugurated Wednesday in Tripoli, will meet 60 percent of the Libyan market in cleaning products.

The plant, with an annual production capacity of 20,000 tons, will also export its products to Maghreban and African countries.

President of the company's governing board, Mohamed Essaâdi, said several factors motivated the Moroccan investment in the project, most importantly Libyan authorities encouragement of private investments and the favorable legal framework for investment.

He said the project translates the strength of Moroccan-Libyan economic relations, particularly in trade exchanges and investments.

Libyan officials said the project will facilitate economic integration between Maghreban countries and will contribute to economic development in Libya.

Economic relations between the two countries have been reinforced after the visit of King Mohammed VI to Libya in January 2001.

The Moroccan-Libyan joint company is part of the privatization policy launched by Tripoli, and which will cover 300 production units in various sectors.