KARACHI, Aug 11: Libya has invited Pakistani businessmen to benefit from opening up of its economy after 30 years of government control.

Ambassador of Libya Ibrahim Mukhtar during a meeting with president FPCCI Chaudhry Muhammad Saeed held on Friday said that the privatisation of public sector units was in progress and businessmen dealing in cement and steel should visit Libya to take benefit of the sell-off of cement factories.

The ambassador said that Pakistan-Libya Joint Ministerial Commission (JMC) meeting had been planned in September or early October this year to implement decisions taken during the visit of Prime Minister Shaukat Aziz to Libya.

President FPCCI suggested that a trade delegation should accompany the official Libyan delegation. He said that the FPCCI would propose to the Libyan National Chamber of Commerce and Industry to sign an MoU for the establishment of Pakistan-Libya joint business council.

He regretted that despite big potential for trade between the two countries Pakistan's exports to Libya amounted to $3.814 million and imports to $0.958 million. Besides textile, Pakistan could export leather and food items, medicines, surgical instruments, soccer ball etc.

The Libyan ambassador said that following the visit of the prime minister agreements to open bank branches in each other's country to facilitate trade and a review of civil aviation agreement and issuance of multiple visa to businessmen were under consideration. —APP