Joined: 05 Oct 2005
Posts: 315
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THE doors to the £19bn economic expansion programme in Libya have been thrown open to Merseyside firms.
Companies from the county will get the chance to establish lucrative links with Colonel Gaddafi's government at a trade show - effectively the first major opportunity to win business with Libya since trade sanctions were lifted. A trade delegation from Merseyside is heading for the country to take part in an exhibition in December. Around £18.5m of contracts will actually be allocated at the expo, sponsored by Gaddafi's daughter, Aisha. Libyan government ministers are looking to establish a series of partnerships with international firms to help develop the country's health, tourism, transport, energy, construction and petrochemical infrastructure. The official British delegation is being organised by the International Trade Centre for Greater Merseyside. Trade advisor, Simon Howard, said the trip provides a unique opportunity for local firms already working as exporters. He said: "Libya needs help from consultants, managers and manufacturers across almost the entire spectrum of the country's economy." The Libyan market re-opened in 1999 following the restoration of diplomatic relations and the suspension of UN and EU sanctions and there has been some, limited, trade with the country. According to the government organisation UK Trade & Investment, visible UK exports to Libya in 2005 totalled just £210.6m and consisted largely of industrial machinery for the oil and gas sector. UK Trade & Investment said Libya could be a strong market for the UK, mainly due to historical links between the two countries. According to a recent speech made by Gaddafi - who has been leader since 1969 - more than £2.5bn will be spent this year alone on improving the country's infrastructure. Mr Howard said: "Because of European support for our programme of business development on Merseyside, companies from the area that want to become part of the British delegation can do so on a subsidised basis." |
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