SM Goh in Libya to strengthen political, economic ties
By Asha Popatlal, Channel NewsAsia | Posted: 05 May 2008 2206 hrs

	Photos  of
	Related News • SM Goh makes four-day official visit to Libya Related Videos SM Goh in Libya to strengthen political, economic ties

TRIPOLI : Senior Minister Goh Chok Tong arrived in Libya on Monday for a four-day visit.

Singapore and Libya established diplomatic relations only in March 2006 and this first visit by Mr Goh is expected to strengthen political and economic ties.

This visit will also complete Mr Goh's series of visits to all the Maghreb countries. Mr Goh is the most senior Singapore leader to visit Libya.

On arrival, Mr Goh said Singapore and Libya do not know each other too well right now. But the senior minister hopes that this visit will signal Singapore's desire for stronger ties.

With better understanding, the private sector could also play a part and contribute to Libya's economic development.

Isolated for decades, Libya has recently become an increasingly accepted member of the international community.

The United Nations lifted sanctions in 2003, after Libya agreed to dismantle its nuclear weapons programme. The decision came after the country also accepted some responsibility for the 1988 bombing of a PanAm plane over the Scottish town of Lockerbie.

Since lifting of the sanctions, Libya - with its six million population - is moving steadily towards economic reform.

Economically, the country, which has the ninth largest reserves of oil in the world, has much potential.

In fact, the Libyan people that Channel NewsAsia spoke to said oil is even cheaper than water. It costs them 12 dirhams (local cents) a litre for oil, while water is 15 dirhams a litre.

Years of sanctions and isolation also means that Libya has a lot of catching up to do in terms of infrastructure, such as roads, airports and schools.

With heritage sites and beautiful beaches, tourism remains another fairly untapped sector.

These are some of the areas that could interest Singapore investors.

For now, trade between Singapore and Libya remains relatively small. Last year, Singapore's imports totalled some S$35 million, primarily in crude petroleum.

Exports totalled just under S$58 million, mainly in jewellery and engineering parts.

But bilateral ties picked up some momentum after Libyan leader Muammar Gaddafi's son, seen as the public face of reform, visited Singapore last year.

Meanwhile, Mr Goh said he hopes to learn more about the country and its values during his visit.

He will meet senior officials and oversee the signing of agreements between Singapore businessmen and their Libyan counterparts. - CNA/ms