Moscow: Libya and Russia have signed a memorandum of understanding aimed at bolstering cooperation in the field of competition protection and the prevention of monopolistic practices. The agreement was formalized during a ceremony in Moscow, with Salama Ibrahim Ghwil, Chairman of the Libyan Competition and Anti-Monopoly Council, and Maxim Shaskulsky, Chairman of the Russian Federal Antimonopoly Service (FAS), representing their respective nations.
According to Libyan News Agency, the memorandum seeks to develop institutional work mechanisms and coordinate efforts between Libya and Russia in market monitoring. The agreement also focuses on enhancing training programs and building the technical capacities of professionals working in competition and economic oversight.
Following the signing, Ghwil highlighted the memorandum as a “starting point for a strategic partnership with Russia,” emphasizing its role in promoting transparency and equal opportunities in both local and international markets. He asserted that cooperation with similar institutions in friendly countries is crucial for establishing a fair and sustainable competitive economic environment.