ABCC Events
Business Roundtable with Libya’s Minister of Economy A high-level briefing on the emerging opportunities in Libya was hosted by the Chamber on 4th March with H E Mr Ali AlIssawi, the Minister of Economy of the State of Libya. Mr Al-Issawi began by stating that Libya was still in a transition period recovering from the 2011 revolution, but it was looking with confidence to the future. He explained that what made Libya distinctive and attractive for doing business was the incentives that it offered to investors. He pointed to its excellent location as a gateway to trade with Africa and close proximity to Europe. The countries of Europe were the premiere trade partners for Libya, the Minister said. The briefing was attended by potential investors, business executives, diplomats, members of the Chamber and others keen to learn more about the many opportunities in this important Arab economy.
Its geographical position had long made Libya a transit point for the trade in goods moving from Europe to Africa. Businesses were attracted by the low transport costs and the strong infrastructure in Libya and it was keen to see this role increase in future years.
The Chamber was joined by H E Mr Yousef Bin Ali Al Khater, the Ambassador of Qatar to the UK and Sir Vincent Kean KCVO, Chairman of the Libyan British Business Council, who were among the many dignitaries in attendance.
The trade agreements that Libya had signed between countries in the region helped facilitate the easy flow of trade in transit from Libya. This access to regional markets was an added advantage of trading with Libya.
The Minister was welcomed and introduced by Mr Bandar Reda, ABCC CEO and Secretary General, who chaired the discussion.
The Minister stressed that Libya had a young population, 70% of whom were active in the labour market. The country needed to equip its
4 | ARAB-BRITISH CHAMBER OF COMMERCE
