Germany to resume export guarantees to Libya

13th August 2004, Comments 0 comments

13 August 2004 , BERLIN - In a further sign of improvement in relations with Libya, Germany has resumed official state-backed export guarantees to the country, Berlin announced Friday. The Economics Ministry said the move follows the recent agreement with Tripoli on compensation claims to be paid by Libya from the 1986 terror bomb attack on the "La Belle" discotheque in Berlin. Economics Minister Wolfgang Clement said there were good business opportunities for German companies in Libya, a country which is

13 August 2004

BERLIN - In a further sign of improvement in relations with Libya, Germany has resumed official state-backed export guarantees to the country, Berlin announced Friday.

The Economics Ministry said the move follows the recent agreement with Tripoli on compensation claims to be paid by Libya from the 1986 terror bomb attack on the "La Belle" discotheque in Berlin.

Economics Minister Wolfgang Clement said there were good business opportunities for German companies in Libya, a country which is a major supplier of oil to Germany.

Three days ago, Germany and Libya announced a preliminary agreement for Tripoli to pay USD 35 million (EUR29 million) in compensation to victims of the disco bombing. They said the final agreement would be signed 3 September.

This development was immediately followed by an announcement that Chancellor Gerhard Schroeder would be visiting Libya, just as British Prime Minister Tony Blair did in March after a settlement with victims of the Lockerbie bombing.

DPA

Subject: German news

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