Tripoli- Dubai discuss enhancing economic cooperation
Libya-United Arab Emirates, Economics, 8/31/2004

Libya's leader Muammar al-Qathafi and the crown prince of Dubai Sheikh Muhammad Bin Rashed al-Maktoum on Sunday discussed means of strengthening bilateral economic relations.

Libya seeks to benefit from the story of economic success maintained by Dubai Emirate with Tripoli's new openness to the world, after lifting the sanctions from it following a vow made by al-Qathafi in December to get rid off banned weapons.

Dubai, in the United Arab Emirates, occupied a main center for trade and economic activity in the Middle East and is also witnessing a rapid transformations into a strong tourist attraction power and a center for naval and planes companies.

Libyan officials said that the talks concentrated on cooperation in the trade and economic fields in addition to Tripoli's care to benefit from Dubai's experience in the field of naval shipment.

In his first visit to Libya, Dubai's crown prince was accompanied by a high ranking delegation including the directors of the economic department, the free trade zone and the federation of the chambers of commerce.

Tripoli, however, seeks to give a greater role to the private sector in the economy which is controlled by the state especially as it was damaged as a result of years of sanctions.

Foreign companies are competing to achieve gains in Libya to benefit from plans set to rebuild the country.

The US lifted the main sanctions from Libya in April following the move made by Tripoli to abrogate its programs to developing mass destruction weapons.

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