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,” said David Ross, senior vice president, Operations, FedEx Express Middle East, Indian Subcontinent and Africa. “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 USD3.9billion in 2011 to USD34.1billion in 2012. In addition, exports rose from USD15billion to USD52.2billion over the same period and, owing to a rebound in oil output, is
further expected to rise to USD81.7billion in 2017.
FedEx has been active in Africa since the early 1990s, through a network of Global
Service Providers.
The new agreement with Takween for Airfreight Services allows FedEx to
utilize the service provider’s existing well-established infrastructure, systems and resources, to
meet customers’ growing shipping needs.
