Investors confident in Libya trade mission
Canadian delegates meet with local business leaders, government
Foreign investors are showing confidence in Libya’s new transitional government, Canada’s Trade Minister Ed Fast said Monday after completing a three-day trade mission to the country.
Fast flew to Libya accompanied by representatives of 15 Canadian companies, including oil and gas company Talisman, Dessau engineering and construction, flight simulator firm CAE, and Canadian Helicopter.
The delegation met with local busi-
Re-engagement by foreign companies is an important signal that Libya is on the path to long-term peace and stability.
Federal Trade Minister Ed Fast
ness leaders and members of the transitional government, including Libya’s trade and oil and gas ministers, and discussed investment opportunities.
“I am here to help Canadian com- panies restore and build new business partnerships with Libyans,” Fast said in a statement from Libya.
“Re-engagement by foreign companies is an important signal that Libya is on the path to long-term peace and stability. Foreign direct investment demonstrates international confidence” in the country, he said.
In 2010, Canadian exports to Libya topped $246.1 million. These included aircraft, cereals, machinery, scientific and precision instruments, and vehicles.
Imports from Libya consisted mostly of fertilizer and reached $24.6 million.