Tripoli March 11:
Libya will become an important Mediterranean and global trade player as the interim government embarks on the difficult task . . .[restrict]of eliminating trade barriers, predicts a Maltese banker.
Margrith Lütschg-Emmenegger, president of FIMBank says that Libya’s re-emergence in world markets will require international support. The Valletta-based bank, which specialises in trade finance, was a lead sponsor of the New Libya Forum conference held in the Maltese capital last month.
“FIMBank and other similar financial institutions” said Lütschg-Emmenegger are committed to investing in Libya to further the development of trade activities in this region.”
She accepted that trade finance banks had to be prepared to educate new clients, especially Small and Medium-Size Enterprises (SMEs) in the ways of techniques such as forfaiting and factoring.
Lütschg-Emmenegger said there would always be an element of risk, doing business in a scenario where a country was finding its feet after a traumatic civil conflict.
“FIMBank, however, is ready and equipped to assist in reducing risks for all parties involved, an attribute which had also served to mitigate risk substantially when Libya was in the midst of critical political turmoil.”