Lebanon, Malaysia sign information agreement

Lebanese Prime Minister Rafik Hariri and his Malaysian counterpart Mahathir Mohammed have signed an information agreement as a first step towards future economic agreements which the two countries hope to sign, news reports said.

Hariri arrived in Malaysia on Monday for a two-day visit, his second to the Asian country in three years. He headed a large Lebanese economic delegation, including the state minister for finance, Fouad Saniora. The trip also followed a visit to Lebanon by Mahathir last June.

Lebanese news reports from Kuala Lumpur said Tuesday that the two sides signed a memorandum of understanding for information cooperation, including cultural and media exchanges.

They also signed a memorandum paving the way for an agreement encouraging investment in both countries and avoiding double taxation. "This visit aims at bolstering relations with Malaysia and making use of the Malaysian experience in development," Hariri reportedly said.

Mahathir expressed regret that his country was unable to invest in Lebanon the way it would like to, blaming the financial crisis in Southeast Asia.

He expressed hope, however, that Malaysian businessmen would invest in the tourism sector and in other fields where Malaysian expertise could help the Lebanese. "Malaysia will take part, in a limited manner, in Lebanon's reconstruction," he said.

Hariri returns to Beirut Tuesday evening.