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An economist says Libya has an opportunity to strengthen its position as a global transit hub.

Pulbished on:

Reporting by: Bushra Al-Aqili

Benghazi, April 9, 2026 (LANA) – Economic expert Helmi Al-Qamati highlighted Libya's significant potential in the maritime transit sector and the importance of leveraging its strategic geographic location on the longest coastline in North Africa.

In a statement to LANA, Al-Qamati emphasized that developing the logistics infrastructure and customs clearance procedures could reduce shipping times by up to 35% and lower logistics costs by approximately 20%, particularly via the Chinese shipping route connecting East Asia and the Mediterranean.

He pointed out that capturing just 2% of the average transit trade could generate annual goods flows valued between $25 billion and $35 billion, yielding direct and indirect revenues for the state of around $5 billion. This sum could contribute to strengthening the national economy and diversifying revenue sources away from oil.

Al-Qamati explained that integrating Libya into the Chinese yuan exchange rate system could help reduce reliance on the dollar and mitigate parallel market volatility, thus fostering a more stable and competitive business environment.

The economist emphasized that investment in infrastructure and logistics facilities would strengthen Libya's position in global supply chains and transform it into a vital transit hub on the Mediterranean.

...(LANA)...