Libya suspends Syrian textiles exports contracts at US $300 million
Syria-Libya, Economics, 12/9/1999

The Syrian daily Tishreen reported today that sources at the Damascus Chambers of Industry said that the Libyan government has suspended several exportation contracts for Syrian industrialists in the area of textiles and garments to Libya at a cost of US $300 million.

The sources added that a group of textile and garment industrialists signed export contracts with Libyan companies two months ago on the grounds that the delivery will be within the first ten days of the holy month of Ramadan, but the Libyan government refused to open the needed letters of credit for these exportation contracts, without giving any justifications.

The sources added that the Syrian industrialists were greatly disappointed as a result of this Libyan measure, which will result in heavy material losses for the textile establishments as these Syrian establishments had earlier refused other exportation contracts from Arab and European states following the contracts with Libya.

Previous Stories:
  Report: Libya stops giving entry visas to Lebanese and Syrians   (12/7/1999)
  Syrian, Libyan parliamentary talks   (6/21/1999)
  Libyan envoy in Damascus   (6/15/1999)

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