Sat, 31 July 2010
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LATEST | HEADLINES :
 
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| Libya seeks to forge Carib ties |
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 Libya is seeking to strengthen its links in the Caribbean.That's the word from a senior Jamaican government official who spoke to businesscontentjamaica.com on condition of anonymity, as he was not yet officially authorized to speak on the issue. It's understood that the Libyans want to set up a diplomatic mission in Kingston and are willing to explore investment opportunities in Jamaica. The Libyans are reportedly interested in establishing an investment bank, as well as a commercial bank in the Eastern Caribbean. The Libyan economy is dependent on oil. In fact oil accounts for over 95% of the country's export earnings. GDP growth is estimated at over 7% per annum and GPD per capita is nearly U.S. $15,000. Libya is shedding the stigma of terrorism. The U.S. State Department says Libya has taken significant steps to mend its international image and formally renounced terrorism in a letter to the UN Security Council in August 2003. In 1999, the Libyan government surrendered two Libyans suspected of involvement in the Pan Am 103 bombing, leading to the suspension of UN sanctions. -Story by Owen James |
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News Business Intelligence Libya seeks to forge Carib ties
News Business Intelligence Libya seeks to forge Carib ties
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