The Libyan Presidency Council issued a Thursday decree exempting some goods from customs duties imposed in accordance with a previous decision issued in October.
The October decree stipulated that merchants shall pay a customs duty of 183 percent of the value of imported goods, provided that these goods will enter the country through Libyan ports before Dec. 27.
The Presidency Council in partnership with the Central Bank of Libya (CBL) approved a number of economic reforms in September, including the imposition of a 183 percent fee on the sale of foreign exchange to citizens.
Subsequently, the CBL issued a number of publications that define the required measures to open letters of credit for traders, as well as the sale of foreign exchange whether through bank cards or direct foreign transfers.
Most of the foreign companies in Libya have left the country after the outbreak of armed conflict in the capital Tripoli between rival militias.
Lately, there have been positive movements by the government in this regard. On Oct. 24, head of the National Oil Corporation (NOC) Mustafa Sanalla held a rare conference in Benghazi. The conference was found a bold move as all the NOC’s previous events were held outside the country due to security concerns.
Security issues have been the biggest obstacles facing Libya since Muammar Gaddafi’s ouster in 2011. Libya has spiraled into civil war between several parties competing for the power, causing divisions within the national army.
There have been two major factions on the ground since 2014; one led by Khalifa Haftar, commander of the Libyan National Army (LNA), who now controls the eastern side of Libya in cooperation with the Tobruk parliament.
The other is led by Faiez Sarraj, chairperson of the Presidency Council of the UN-backed Government of National Accord (GNA).
Meanwhile, the Islamic State (IS) and other terrorist groups took advantage of the conflict and established a foothold in the country, posing threats to Libya’s neighbors.
