UK-Sponsored Event to Reinforce EU-Libya Trade Links
With eased political tensions between Libya and the rest of the world, EU manufacturing and service companies are poised to land in Tripoli for the first networking event designed to bring together European business and Libyan state-backed organisations earmarked for privatisation. Libya: Opportunity & Challenge (12-13 October 2004, Tripoli) is organised by the UK’s Middle East Association and Compass Rose International, the London-based event producer.
Up to 300 Libyan public enterprises may be privatised over the next five years in an effort to attract direct foreign investment. Saif Al Islam Al Gadhaffi, son of the country’s head of state and patron of Libya: Opportunity & Challenge, said: “After a decade of sanctions, we have set ourselves ambitious economic targets as part of our reintegration into the world economy. Our industrial and commercial infrastructure needs an influx of investment and skills in a wide range of areas from oil and gas to tourism.
“Libya is historically, economically and culturally linked to Europe and, through events like this networking conference, we are looking to reinforce our economic ties with EU companies by putting them together with key decision makers in the Libyan economy across a wide range of business sectors,” he said.
The EU – specifically Italy, Germany, France, Spain and the UK – continues to be Libya’s largest trading partner and in 2002 accounted for some 50% of imports and 70% of exports.
With oil and gas accounting for some 25% of Libya’s GDP, Libya: Opportunity & Challenge will provide structured networking opportunities for this and other manufacturing (20% of GDP) and service (est 46% GDP) sectors:
Oil and Gas Electricity, Water & Sanitation
Construction, and Manufacturing Tourism & Leisure
Consultancy, Education and Training Communications & IT
Aviation, Ports and Terminals Healthcare & Pharmaceuticals
Banking, Finance and Insurance General Trading, Retail & Distribution
The MEA’s Michael Thomas said: “This conference is going to be a practical matchmaking session between European companies of all sizes and in a wide range of commercial and industrial sectors who want to do business in Libya, a market that companies around the globe have set their sights on. European companies have been active in Libya for years and they are now in a position to consolidate and expand their position in one of the most promising African economies of the 21st century.”
Libya: Opportunity & Challenge is organised by the Middle East Association and Compass Rose International. The Middle East Association is a not-for-profit organisation formed in 1961 by the UK government and leading private sector organisations. Compass Rose is a conference and networking producer that specialises in organising events in the Middle East.
Michael Thomas, Middle East Association + 44(0) 207 839 2137
Susan Sandouka, Compass Rose International + 44 (0) 207 831 5451 www.libya-event.com
Middle East Association
33, Bury Street
London SW1Y 6AX
Tel: 0207 8392137
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