Business delegation explores new Libya

A business delegation comprising 20 companies operating in the maritime industry has returned to Malta after a successful exploratory mission to learn more about the business environment in the post-revolution Libya.

Operating in sectors such as ship repair, maritime engineering and infrastructure, port management and services, yachting services, as well as others involved in soft services such as training and consultancy, the business delegates took a particular interest in the site visits to various ports.

These not only comprised the major ports of Tripoli and Misurata, but also other ports such as Homs and Zliten, while a visit to the port of Benghazi that was also scheduled to take place had to be called off due to bad weather conditions.

Through these visits, the business delegation had the opportunity to view the operating environment in these regions and to meet the port authorities overseeing them, with whom they discussed issues of concern, the port structure and facilities, as well as potential business prospects.

While in Libya the delegates also had the opportunity to meet their Libyan counterparts during networking sessions and scheduled one-to-one meetings, where they were also able to discuss business opportunitities and possible collaborations.

The Maltese entrepreneurs commented positively about the organisation and the outcome of the delegation, with some participants immediately expressing their interest in other delegations Malta Enterprise being organised in future. Malta Enterprise shall be organising the second of the sectoral business delegations in the coming months, in line with the strategy discussed with the Libyan authorities.

Meanwhile, an official delegation from Malta Enterprise comprising the Executive Chairman also accompanied the Minister of Finance, Economy, and Investment and the Minister for Fair Competition, Small Business and Consumers during their meetings with the Libyan Ministers for Industry, the Economy and Transport.

Following these meetings, the first meeting of the Technical Committee for Trade and Investment was conducted, in line with the Memorandum of Understanding signed between Malta Enterprise and the General Board of Privatisation and Investment in Libya earlier this year.

The aim of the technical committee is to facilitate trade and investment between the two countries. In this light, it will be responsible for implementing a number of initiatives such as the organisation of trade delegations, exchange of good practices and capacity building, amongst others.

Malta Enterprise and Transport Malta also organised two separate seminars for Libyan officials involved in regulating these sectors with the aim of providing training and assistance to these public bodies based on Malta’s expertise in these fields.