KARACHI (APP) - Pakistans Ambassador to Libya Jamil Ahmed Khan on Thursday stressed on economic diplomacy and also suggested that Government in collaboration with private sector especially FPCCI should conduct a detailed study on the opening and potent economy of Libya to increase our exports and investment. Such a study /survey would help determine the demand for Pakistani products in Libyan market and the avenues for investment, the Ambassador said while addressing business community at Federation House here, the Headquarters of Federation of Pakistan Chambers of Commerce and Industry (FPCCI). The present bilateral trade of dollars 9 million could be enhanced to at least dollars one billion per annum as there is a big potential of trade and investment in Libya which is also a gateway to Egypt, Algeria, Sudan, Nigeria and other African countries, he said. Jamil was welcomed by President FPCCI Sultan Ahmed Chawla and Vice Presidents of FPCCI Muhammad Mansha Chhura and Zakria Usman along with other senior officials of FPCCI. The Ambassador said that we should pay more attention to economic diplomacy as it has proved an effective tool to settle political issues as well. Libya has liberalised/ opened its economy for foreign companies and there are no duties on imports or exports and no other restrictions but check on religious activity or the material. Foreign investors could take 60 percent of their profit to their homes. Now the Libyan Government was encouraging private sector by giving maximum incentives and facilities. He assured to strengthen the role of Pakistans Commercial Counsellor in Libya for promotion of trade and investment there. He offered all facilities and support to FPCCI for opening its office at Pakistan Embassy in Tripoli (Libya). He hoped this would duly project the potential of Pakistani private sector and help sell Pakistani products including manpower. He said the best choice for Commercial Counsellors should be private sector people especially the nominees from FPCCI and they should enjoy all support and facilitation from Pakistan Government to achieve the targets. He said Libya has a big demand for skilled manpower and we could benefit by producing ISO-certified skilled workers which Bangladesh, Sri Lanka and Thailand were already doing and capturing Libyan market. In 1970s, it was big political achievement of Pakistan when more than one lac Pakistani manpower were exported to Libya. Eight months earlier, this number was only 10,000. However, he said, he has succeeded in exporting around five thousand Pakistani workers. In his presentation on Libyan economy, the Pakistan Ambassador to Libya said there was an ideal law and order situation for investment. Even foreign diplomats there do not need any security guard, he said.