Libya lifts tariffs on 3,500 commodities

TRIPOLI, Libya, July 10 (UPI) -- Libya said Sunday it has decided to lift custom tariffs on more than 3,500 imported commodities in a move to liberate the country's economy.

Prime Minister Shukri Ghanem told the official Libyan news agency the measure was aimed at "improving the economic performance and easing the pressure on Libyans in terms of high prices on some products."

He said he expected the removal of custom duties would lower prices, end bureaucratic measures, limit smuggling and increase the trade volume.

Ghanem added the move was a step to make Libya a free market economy and turn it into a transit point between Africa and Europe, as well as "the rest of the world."