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Pakistani businessmen invited to invest in Libya
Libya has invited Pakistani businessmen to benefit from the opening up of its economy after 30 years of government control.
The Libyan Ambassador to Pakistan, Ibrahim Mukhtar, during a meeting with the president of the FPCCI, Chaudhry Muhammad Saeed, said that the privatisation of public sector units was in progress and businessmen dealing in cement and steel should visit Libya to take advantage of the sell-off of the cement industry.
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The ambassador said that a Pakistan-Libya Joint Ministerial Commission (JMC) meeting
had been planned in September or early October this year to implement decisions taken during the visit of Prime Minister Shaukat Aziz to Libya.
The FPCCI president suggested that a trade delegation should accompany the official Libyan delegation. He said that the FPCCI would propose to the Libyan National Chamber of Commerce and Industry the establishment of a Pakistan- Libya joint business council. |
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He regretted that despite huge potential for trade between the two countries, Pakistan's exports to Libya only amounted to $3.814 million and to $0.958 million in imports. He said that besides textile, Pakistan could export a range of leather and food items, medicines and surgical instruments, and many other products.
The Libyan ambassador also said that following the visit of the prime minister, agreements to open reciprocal bank branches in both countries to facilitate trade, and a review of civil aviation agreement, coupled with the issuance of multiple visas to businessmen were under consideration.
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