Libya Wants to Invest in U.S. Nov 23, 2008 13:25:15 GMT -5
Post by Bozur on Nov 23, 2008 13:25:15 GMT -5
Qaddafi Son Says Libya Wants to Invest in U.S.
Article Tools Sponsored By
By THE ASSOCIATED PRESS
Published: November 21, 2008
Libya would like to open a new chapter in relations with the United States by tapping into a major government fund to invest in American corporations and by sending thousands of students to study in the United States, a son of Libya’s leader said Friday.
In an interview, Seif al-Islam el-Qaddafi, a son of Col. Muammar el-Qaddafi, the leader of Libya, also outlined plans for Libya to move from the one-man rule of his father to a constitutional democracy as part of the country’s modernization process.
The younger Qaddafi said he expected that a constitution providing for democratic elections would be adopted by next September — the 40th anniversary of the revolution that brought his father to power.
He said he expected Libya to modify its central government to a model similar to the United States federal government, with strong regional and local governments.
Seif Qaddafi, who was a central figure in normalizing Libya’s relations with the United States, is on a private visit to the United States. But his trip included meetings with Secretary of State Condoleezza Rice, other administration officials and many members of Congress.
It also coincided with the confirmation on Friday of Gene Cretz as the first American ambassador to Libya in 36 years. The confirmation capped a halting, five-year reconciliation between the countries that began in 2003, when the Libyan leader renounced terrorism and unconventional weapons.
The younger Qaddafi said that Libya’s sovereign wealth fund, a government-owned investment fund with almost $100 billion, would like to invest in American companies, despite the current financial crisis.
Libya’s other major focus is promoting education links with the United States. Seif Qaddafi said he expected Libya to sign a cultural and educational agreement with the American government next month.
In addition to sending “thousands of our students to study here,” he said, Libya has begun conversations with American colleges and universities about operating there.