Press briefing of Cabinet Decision taken on 2011-01-12

Memorandum of Understanding concluded with the Great Socialist People?s Libyan Arab Jamahiriya

- Sri Lanka and Libya being pioneers of the Non-Aligned Movement have closely cooperated within the moment. Sri Lanka has been the largest black tea supplier to Libya with a market share of over 90% of total tea imports to that country. H.E. the President visited Libya in April 2009, which was the first by a Sri Lankan Head and the Libyan Leader agreed to provide US $500 million as a financial cooperation package for the development projects in Sri Lanka, including development works in Hambantota and Northern and Eastern Provinces. On a proposal made by the Minister of External Affairs, Hon. (Prof) G.L. Peiris, covering approval of the Cabinet of Ministers was granted for three Memoranda of Understanding signed between the two countries, during the visit of H.E. President in 2009, which will further enhance cooperation in economic, technical and cultural fields in both countries.