FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, has expanded its global network by re-launching its express solutions in Libya through Takween for Airfreight Services.
Now a licensed Federal Express Global Service Provider (GSP), Takween is responsible for offering a range of FedEx services to customers in Libya including import, export and customs clearance. Libya’s rapidly growing economy is expected to attract foreign investors. FedEx aims to support this growth by providing world-class shipping solutions, access and enhanced connectivity for companies and residents across Libya.
“Libya has great growth potential as the economy stabilizes in the post-revolution era. Its growth is not only being spurred by the oil and gas sector, but also by other industries such as trade and construction,” David Ross, senior vice president, Operation, FedEx Express Middle East, Indian Subcontinent and Africa, said.
“As a big contributor to international trade, FedEx will significantly support Libya and its business community, enhancing flexibility and speed to market.”
According to The Economist Intelligence Unit, it is estimated that Libya’s trade surplus recovered from just $3.9 billion in 2011 to $34.1 billion in 2012. In addition, exports rose from $15 billion to $52.2 billion, over the same period that is owing to a rebound in oil output and is expected to further rise to $81.7 billion in 2017.
The network expansion by FedEx in Libya is indicative of the company’s continuous growth, and commitment to its customers in the Middle East and North Africa region.