Business News

Chamber of Commerce Names Libya Rep

Ljubljana, 12 April (STA) - The Slovenian Chamber of Industry and Commerce (GZS) named on Monday a temporary representative in Libya in the face of the increasing business opportunities on the Libyan market. The post was given to Esad Ajeti, former GZS business representative in Russia and former head of shipping company Intereuropa's Russian branch.

According to the GZS, delegations of Slovenian construction companies Neimar Invest, Vegrad and Primorje are currently in Libya discussing large-scale projects like the construction of a whole residential area, roads, a hospital and a hotel.

Each company is to take over its own project and carry it own independently, the press release reads.

Neimar Invest already has a EUR 110m contract for the construction of a residential area in the town of Sirt in northern Libya and a EUR 40m contract for a children's hospital in Tripoli.

Several Slovenian companies will take part in these projects, by shipping equipment and carrying out the finishing works.

Slovenian construction giant SCT meanwhile closed a EUR 330m deal on 24 March for an eight-lane motorway section in Benghazi in NE Libya.

The increasing interest in Slovenian-Libyan cooperation comes after a visit to Libya by Slovenian Prime Minister Borut Pahor and a strong business delegation in November 2009, when Pahor said trade between the two countries could be boosted tenfold from EUR 150m in 2008 to EUR 1.5bn.

The most prospects for this were said to lie in construction, as Libya is planning a number of construction projects worth several billion euros.

Trade between Slovenia and Libya amounted to EUR 82m, which was 45% less than a year before. Exports from Slovenia stood at EUR 39m, 39% down compared to 2008, while imports fell in 2009 by almost a half to EUR 43m.

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