Opportunities for British Exporters in Libya

Libya is a growing market which offers enormous opportunities for British exporters of goods and services and Libyan firms are keen to establish strong commercial links with the UK. Many prominent Libyan decision-makers have received a British education and English is widely used in business.

 

As UKTI points out in a recent briefing change is in the air in Libya today, the business climate is becoming much more attractive, the private sector is growing and the field for foreign investors is improving. Libya has been classified by the World Bank as an “upper-middle-income developing country”. Income obtained from oil and gas exports has enabled Libya to maintain a large public sector with extensive public investment in health, education, agriculture and non-oil related industries.

 

Libya is continuing with its efforts to diversify the economy and encourage more private-sector participation in areas like manufacturing and services. As the country moves forward with its modernization and integration within the global economic system, Libya offers potentially rich trade opportunities in nearly every sector, including oil and gas, griculture,telecommunications, education, medical equipment and services and tourism.

 

There has been a significant increase in trade and improvement in relations over recent years. New opportunities in a wide range of areas are continuing to open up and UK companies are gearing up to take advantage. - Akhbarak