Joined: 05 Oct 2005
Posts: 315
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2006/9/20
TAIPEI, CNA Taiwan's trade promotion organization has signed an agreement with Libya's foreign trade authorities on joint efforts to reinforce mutual investment and boost trade cooperation. The cooperative agreement was forged by Ali A. Isawi, head of the Libyan Export Promotion Center, and Chao Yun-chuan, secretary-general of the semi official Taiwan External Trade Development Council (TAITRA), in Taipei City Monday. TAITRA is planning to organize a trade delegation for a visit to Africa in December to seek to boost trade with countries there, including Libya, where the council has attended two trade fairs in the capital Tripoli since 2005, according to TAITRA officials. President Chen Shui-bian visited Libya May 10, when he revealed that Taiwan will make efforts to strengthen its relationship with the oil rich country in North Africa. Libya -- the second largest oil producer in Africa -- has a population of 6.09 million people and a per capita income of US$8,400, the highest level in North Africa. Libya's foreign trade has grown quickly since the United Nations and the United States lifted in 2004 economic sanctions on the nation once accused of committing acts of state-sponsored terrorism. Thanks to high international oil prices, Libya's foreign reserves have grown by leaps and bounds in recent years. It has also become one of the most popular emerging markets in the region. In January, President Chen met with Saif Gadhafi, son of Libyan leader Muammar Abu Minyar al-Gaddafi, in Taipei. During the meeting, they exchanged views on issues concerning cooperation in the areas of trade and economics, technology, aviation, tourism and military security. During Chen's stopover in Libya in May, the two sides signed a memorandum of understanding on exchanging representative offices as part of efforts to reinforce their bilateral relationship. |
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