Pakistan’s Ambassador to Libya, Mumtaz Hussain, pledged to double his country’s exports to the Libyan market and work towards increasing the number of Pakistani workers in Libya, according to LANA, Libya's state news agency.
The remarks were made during a seminar held in Lahore last Saturday (25 July) titled "Enhancing Trade and Economic Cooperation between Libya and Pakistan," organized by the Lahore Chamber of Commerce and Industry.
Reconnecting Pakistani companies with the Libyan market
In his address, Hussain emphasized that his new mission focuses on reconnecting Pakistani companies with the Libyan market and acting as a liaison and facilitator between stakeholders in both countries to boost economic cooperation and open new avenues for joint investments.
Bilateral volume of trade remains below full potential
He noted that the volume of trade between the two nations remains below its full potential. According to data from the State Bank of Pakistan, the country imported goods worth approximately $1.1 million from Libya, while its exports to Libya totalled around $13.1 million during the 2025–2026 fiscal year.
Libyan market offers Pakistani companies promising opportunities
The Ambassador highlighted the promising opportunities the Libyan market offers Pakistani companies, particularly given the country's reconstruction needs and investment prospects across various sectors. He pointed out that the Pakistani firm "Lucky Cement" has reached advanced stages in establishing a cement plant in Libya, citing this as a positive indicator of growing Pakistani investment in the country.
Bilateral trade volume could exceed US$ 1 billion
For his part, the President of the Lahore Chamber of Commerce and Industry, Faheem-ur-Rehman Saigol, underscored the importance of transforming political relations between Libya and Pakistan into robust economic partnerships. He noted that bilateral trade volume could exceed $1 billion, given the potential of both nations and the complementarity of their markets.
Saigol called for enhanced cooperation in sectors such as textiles, surgical instruments, processed foods, sporting goods, engineering products, construction materials, and IT services—as well as opportunities within the oil and gas services sector—reaffirming the Chamber’s commitment to facilitating business connections and organizing trade delegations and exhibitions.
Hussain emphasized the need to address challenges hindering trade, including banking channels, market access, and visa procedures, assuring that his country’s embassy in Libya would continue to support serious trade initiatives and encourage businesspeople to explore available investment opportunities.