Libya looking for better economic relations with the Kingdom



Arab News

Published — Sunday 18 November 2012

Last update 18 November 2012 5:59 am

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JEDDAH: Dr. Muhammad Al-Muqairef, president of the Libyan National Conference, has expressed his country’s desire to strengthen economic and commercial cooperation with Saudi Arabia.
Addressing Saudi businessmen at the Council of Saudi Chambers in Riyadh, he said: “We would like to encourage Saudi investors to carry out joint projects in Libya.”
He said Libya has revised its regulations to facilitate and protect foreign investment in the country and opened new areas for foreign investment.
Al-Muqairef, who is currently visiting the Kingdom at the head of a high-level delegation including ministers and businessmen, sought Saudi support to rebuild the country.
He thanked Custodian of the Two Holy Mosques King Abdullah for receiving him and his delegation and expressing his sincere feelings for the security and future of Libya.
Al-Muqairef welcomed the formation of the Saudi-Libyan Business Council and urged Saudi businessmen to visit his country to explore new investment opportunities.
Abdullah Al-Mubti, president of CSC, urged Al-Muqairef to facilitate issuance of visas for Saudi businessmen to visit Libya. He said bilateral trade between the two countries had not reached the expected level. Two-way trade in 2011 was estimated at $ 51.2 million. He stressed the Saudi businessmen’s desire to strengthen business and investment relations between the two countries.

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