The Libyan British Business Council (LBBC) organised a business delegation to Tripoli from 8 to 9 November. The LBBC said the delegation consisted of 30 businessmen and women who were keen to build on their existing relationships with companies in Libya.
The delegation was sponsored by Bank ABC, BACB, Eltumi & Co and Wazen Oil Services with the support and cooperation of the British embassy.
The main day of meetings consisted of four main panels.
The energy panel started with a keynote presentation by NOC Chairman, Farhat Ben Gadara, who set out his priorities: increasing oil production, focusing on gas, restructuring the NOC and boosting environmental protection. He also announced the imminent lifting of force majeure on new exploration. The panel then discussed the legal, financial, administrative issues around engagement with the crucial hydrocarbon sector in Libya.
The Banking panel started with a keynote presentation by Central Bank Governor Saddek El Kaber and then discussed a range of important issues for companies interested in how the banking and finance sectors function in Libya and the best ways to ensure prompt payments of contracts.
The third panel on the private sector heard several interesting presentations from a major private sector company, AlSahl and LIPTIC and then discussed the best way for companies to develop stronger relationships with the burgeoning private sector in Libya including on oil services, education, training and health.
The fourth panel on training and visas discussed the importance of issuing of visas for business visitors and the NOC welcomed the significant progress that had been made in issuing visas for NOC students to study at British Universities.
The delegates also participated in a reception hosted by British Ambassador Caroline Hurndall in which they met a wider group of Libyan businessmen and women.
Chairman of the LBBC, Peter Millett said “I am delighted that the LBBC is here in Tripoli for the first time in 8 years and has received an extremely warm and encouraging reception from Libya’s economic institutions and business sector. We will build on this important start and aim to visit Benghazi in the near future and to return to Tripoli next year with another major delegation. In short, British Business is ready to help rebuild Libyan infrastructure, help to modernise the energy sector and cooperate with the private sector in Libya.”
The LBBC also welcomed the launch of the new British Libyan Business Association, a group of local companies and looked forward to working together with their Libya-based network.