Bilateral relations and cooperation with other countries were strengthened within the framework of the CARIN General Assembly (Paris, France).

The Head of ARMA Olena Duma and Deputy Head of ARMA for European Integration Grigol Katamadze held negotiations with the Deputy Director General of the Libyan Asset Recovery and Management Office (LARMO) Yousef Abedella.

This bilateral meeting contributed to the development of relations between the two authorities, which was formalized by signing an international interagency agreement. This document lays down the legal and organizational framework for close cooperation in the field of finding, seizure and management of illegally obtained assets.

The main aspects of the agreement include:

• Exchange of information on best practices and modern methods of asset management;
• Organizing joint training programs, seminars and workshops to improve the skills of employees;
• Ensuring quick response to requests from both parties to resolve operational issues;
• Promoting the introduction of advanced technologies and innovations in asset management processes.

Head of ARMA Olena Duma emphasized: “The signing of this agreement is an important step in our international cooperation. Libya has a wealth of experience in the field of asset management, and we are pleased to share knowledge and develop joint solutions to overcome global challenges in this area.”

LARMO Deputy Director General Youssef Abedella also emphasized the importance of the partnership: "Cooperation with ARMA opens up new opportunities for us to improve our asset management mechanisms and helps to strengthen our institutional connections. We are confident that this agreement will be the basis for further successful initiatives."

ARMA and LARMO have agreed to develop a joint program of activities that will allow both parties to integrate best practices into their daily processes. In addition, regular working meetings and joint projects aimed at increasing transparency and efficiency are planned.

Developing international partnerships is a key priority for ARMA. Cooperation with LARMO, as well as with other members of the CARIN network, allows us to join forces in the fight against economic crime, promote transparency and efficiency in asset tracing, and ensure their return to the states affected by illegal actions.

This memorandum is another step in building a global network of partnerships aimed at effective asset management and recovery.