United Arab Emirates investments in Libya have doubled in just two months, reaching more than one billion dollars and making the Emirates one of the largest investors in a country that is undergoing a radical redevelopment programme.
The volume of investment between the two countries is expected to boom in the coming years. An agreement has been signed between the two countries for bilateral relations and co-operation in a wide range of sectors, particularly trade and tourism
One of the sectors to benefit is civil aviation. Libya has signed an air transport agreement with a United Arab Emirates civil aviation delegation to boost economic and commercial co-operation.
The agreement includes a Memorandum of Understanding which will give Emirates the right to operate 28 flights to Libya starting in winter 2009. Ras Al Khaimah Airlines was also considered as one of the national air carriers who stand to benefit from the agreement.
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