The Hindu : Indo-Libyan meet discusses joint ventures

Online edition of India's National Newspaper
Friday, Oct 11, 2002

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Indo-Libyan meet discusses joint ventures

By Our Special Correspondent

NEW DELHI Oct. 10 . India and Libya are seeking joint ventures in hydro-carbons and power, while also trying to resolve some bilateral trade disputes. These issues were raised at the outset of a three day Indo-Libyan Joint Commission meeting here on Wednesday.

The Minister of State for Commerce and Industry, Raman Singh, who led the Indian delegation to the talks, said Indian agencies could supply complete plant and equipment in power generation and transmission, as well as rail transport infrastructure and cement in the construction sector.

``We are ready to share our experience, expertise and technical know-how for economic cooperation with Libya'', he said while pointing to the scope for providing consultancy and managerial services for running industrial units, banks and other financial institutions.

He also urged the Libyan side to settle the question of outstanding dues of Indian companies in Libya to the satisfaction of both the sides. An early resolution of this issue would help create an environment conducive to promoting and expanding bilateral trade and industrial relations, he said.

In bilateral trade, the two sides discussed market access issues such as lower import duty on walnuts supplied from India and a dispute over supply of sub-standard tea from this country. General issues relating to repatriation of earnings and revision of the ceiling for remittance of salary of Indian workers.

The Libyan delegation, led by the Assistant Secretary, Foreign Affairs, Saad Mustafa Mujber, said Libya would favour Indian companies, owing to close historical ties with this country.

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