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Economics
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Saturday, 02 October 2010 09:12 |
Libya (Tripoli) - Libya, Syria are bolstering Economic cooperation and joint investments,
reports Global Arab Network according official sources.
Addressing the Syrian-Libyan Strategic Cooperation Council, Secretary of Libyan General People's Committee for Planning and Finance, Dr. Abdul Hafeez Al-Zulaitni, called for bolstering the Libyan-Syrian cooperation, intensifying contacts and communications between businessmen of both countries, hindering whatever obstacles which might encounter businessmen and investors.
A score of cooperation agreements to be signed between Syria and Libya during the coming visit of Libyan Prime Minster to Damascus.
Dr. Al-Zulaitni disclosed that among the agreements to be signed is one related to the formation of a joint Libyan-Syrian Company as the core for a holding company with many affiliated companies with a capital of about 4 billion US dollars.
Syrian Minister of Finance, Dr. Mohammad Al-Hussein, said that Syria and Libya create an Arab African depth to be bolstered, calling for making use of this depth as to bolster cooperation and accomplish the aspired-for objective to be an example for Arab Economic Cooperation.
For his part, Dr. Al-Hussein said '' we seek to achieve the more of success and progress in our relations, based on the political will of President Bashar al-Assad and Colonel Mua'amer Algathafi, Leader of Al-Fatih of September Revolution, so as to achieve integrated partnership between Syria and Libya in all fields.'' Reports Syrian news agency.
Minister Al-Hussein underscored Syria's welcome to Libyan Businessmen and Investors, citing the ongoing positive investment developments, new investment legislative bylaws, and promising investment opportunities, calling for joint ventures.
The talks focused at the final touches on the legal aspect for investment exchange between Syria and Libya, facilitation of citizens' movements, and the possibility of opening a maritime line between both countries.
Later, al-Hussein and al-Zulaitni discussed means of developing the Arab Union Contracting Company and the Arab Union of Land Transport while chairing the regular meeting of the general assemblies of the two companies.
Both sides reviewed the annual report on the companies' activities for the financial year ending in January 31, 2008 and the summary of the results of the financial accounts for 2008 and 2009.
The assemblies approved the two budgets and the final accounts of the companies for the financial year ending in January 31, 2009 and the assigning of accountants for 2010 and 2011.
(Agencies, SANA, JANA and other inputs)
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