Date:26/11/2004 URL: http://www.thehindu.com/2004/11/26/stories/2004112603341400.htm

International

Chirac for role in Libya's revival

TRIPOLI, NOV. 25. The French President Jacques Chirac began a second day of meetings on Thursday with Libya's Muammar Qadhafi, a historic visit for the two nations that comes amid a rush of Western interest in the oil-rich nation.

Mr. Chirac's visit marks the first by a French President since Libya's independence from Italy in 1951.

Roughly two dozen business leaders accompanied Mr. Chirac, including executives from French oil giant Total, gas firm Gaz de France, combat aircraft manufacturer Dassault Aviation and defence group Thales.

Ahead of a second tete-a-tete with the Libyan leader, Mr. Chirac presided on Thursday over a round-table with French executives — urging them to play a role in Libya's economic revival.

``It is a promising market.

The maximum must be done to support it,'' Mr. Chirac said. Total Group was among many European oil companies that remained in Libya despite U.S. and U.N. sanctions imposed on the country in the 1980s.

French trade with Libya stands at a yearly $2.5 billions, including a yearly $2 billions of Libyan oil exports to France. After his arrival in the North African nation on Wednesday, the French President said turbulent times between the two countries were over and a ``true partnership'' was ahead. Mr. Chirac, applauding ``an exceptional moment'' for France and Libya, met for an hour with Mr. Qadhafi on Wednesday and spelled out the business benefits France hopes to achieve.