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Libya invites Pakistani investors to invest in construction Projects

Islamabad, June 08, 2013 (PPI-OT): Mr. Abdul Wahed Abugila, Charge’d Affairs, Embassy of Libya visited Islamabad Chamber of Commerce and Industry to discuss possibilities of improving bilateral trade relations between Pakistan and Libya. Addressing the business community informed that lot of construction projects were underway in Libya, which offered huge investment potential to foreign investors.

He invited Pakistani investors to explore investment opportunities in construction, infrastructure development including roads, bridges, buildings and other ongoing projects as Libya preferred Pakistani investors compared to other countries.

He said Libya was also interested in Pakistan’s cooperation in trade, industry, agriculture and other potential areas. He assured that he would request his government to consider giving land on lease to Pakistani investors that would help in improving agricultural productivity in Libya.

He said Libya was also giving preference to Pakistani labor as they were playing crucial role in the economic development of Libya. Libyan Embassy was issuing 150-200 daily visas to Pakistanis as there was enough scope for Pakistani talent in Libya.

Mr. Abdul Wahed Abugila stressed for the need of frequent exchange of trade delegations, increased cooperation between trade bodies of two countries and activation of Pak-Libya Business Council to explore new areas of mutual cooperation and start a new chapter of good relations between the two countries.

Speaking on the occasion, Mr. Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry said that being the brotherly Islamic countries, Pakistan and Libya enjoyed good historical relations. However, there was a need to transform them into flourishing trade, commerce and economic relations to achieve mutually beneficial results.

He said that Pakistan was an agricultural country and Libya should give land on lease to Pakistani agriculturalists so that they could contribute in developing agriculture sector in Libya and improve its agricultural productivity. He said Pakistani investors were doing this in Sudan and achieving good results. Therefore, Libya should give serious consideration to this proposal seriously which would bring the two countries further closer.

Mr. Bakhtawari said ICCI would soon start initiatives to activate Pak-Libya Business Council as it would help in promoting direct connectivity between the private sectors of both countries. He said Libyan Embassy should share information regarding planned trade fairs and exhibitions in Libya with ICCI so that our businessmen could participate in such events and explore business opportunities in potential areas.

He said ICCI would take a business delegation to Tripoli to explore areas of bilateral cooperation. He also invited a delegation of Libyan entrepreneurs to ICCI and assured of providing all sorts of help and support to make its visit productive. He also stressed for regular interaction between Embassy and Chamber to keep good relations on track.

For more information, contact:
Islamabad Chamber of Commerce and Industry
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1,
Islamabad, Pakistan
Tel: +9251 225 0526 and 225 3145
Fax: +9251 225 2950

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