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Russian business may restart investment projects in Libya

Russian companies will participate in joint investment projects in the country as soon as Libya becomes safer for doing business, official vows

MOSCOW, November 13. /TASS/. Russian companies may continue participating in joint investment projects together with Libya when the security situation in the North African country normalizes and unified government institutions are established, First Deputy Head of the Russian government office Sergei Prikhodko told reporters on Tuesday in connection with Russian Prime Minister Dmitry Medvedev's participation in the international conference on Libya in Italy's Palermo.

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"When it comes to trade and economic cooperation with Libya, we proceed from the condition that Russian companies will participate in joint investment projects when the security situation in the country are normalized and unified government institutions are formed in Libya," Prikhodko said.

"There are spheres where effective cooperation is already possible - for instance, in boosting trade turnover. It is evident that the current bilateral trade turnover at $200 million is below the existing potential. The interest of Russian business circles toward Libya is evident, and this is a good prerequisite for close joint work. We internd to prepare the conditions to restore partnership in different spheres once the circumstances become more favorable," Prikhodko said.

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