Misrata Free Zone announced the official activation of its free zone transit service after receiving the first foreign shipment coming from the Ras Ijdir crossing border with Tunisia.
Ala Al-Din Baba, Director of the Markiting and Cooperation Department at the Misrata Free Zone, said in statements to The Libya Observer that the new service will allow companies to expand their trading activities globally with zero customs duty.
"Nationally, the free zone transit will generate positive effects on the economy since it allows further foreign currency inflows. Another benefit is employment within the sector itself, including companies' staff, venues staff, etc," the official said.
He also indicated that this would promote sustainable spatial development at national and regional levels.
"The Free zone Transit has other indirect economic benefits such as revenues for local shops, hotels, and restaurants."
"We expect to launch new trading routes deep in the African continent, initially with Chad and Niger, and this would create a range of businesses throughout this route, including automobile repair shops and other service industries," Ala Al-Din Baba explains.
