A major business forum, Libya Opportunity & Challenge III is to be held in London on 23 July 2009.  The conference is being organised by the Middle East Association, with the support of UK Trade & Investment, the Libyan British Business Council, the Tripoli Chamber of Commerce and the Libyan Businessmen's Council.

This is the third annual trade conference on Libya being organised by the Middle East Association, showing the growth of trade relations between the UK and Libya, and the vast opportunities available to British businesses in the country. Key speakers from government and the private sector, from both the UK and Libya will be invited to address delegates, providing a political and economic overview of the country before sector-specific panels focus on the growth areas in the economy.

Libya is Africa's second biggest oil producer and Europe's single biggest supplier as well as a major gas producer. Absence of external debt as well as a Sovereign Wealth Fund of US$120bn has meant relative insulation from the global economic crisis.

UK visible exports to Libya were worth £280 million in 2008, and UK exports in the first two months of 2009 show a 5% increase on last year's figures. Libya is investing heavily in its oil & gas sector, infrastructure & construction projects, education, healthcare and telecommunications. The Libyan government, through the Libyan Africa Investment Portfolio, has earmarked a $5billion fund for investments on the continent, making Libya a strategic hub for business in Africa.

For more information, contact: The Middle East Association, 33 Bury Street, London SW1Y 6AX, Tel: 020 7839 2137, Fax: 020 7839 6121.

For more information about The Middle East Association, click here

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