I. Diplomatic relations
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Diplomatic relations between the two countries date back to 1952, when Libyas independence was formally recognized by the UN. Greece has an Embassy in Tripoli, while Libya is represented in Greece through her Embassy in Athens.
II. Framework of treaties
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The main bilateral agreements making up the treaty framework of Greek-Libyan relations are as follows:
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- Agreement regulating scheduled flights between and beyond Greek and Libyan territories. Initialled in Tripoli, 23.1.1979. Law 1088/4.11.80 (Gov. Gazette 258//8.11.1980). Came into force 14.2.1981 (Gov. Gazette 51//27.2.1981)
- Agreement on social insurance, Athens, 24.3.1988. Law 1909/1990 (Gov. Gaz. 163//30.11.1990). Came into force 1.3.1991 (Gov. Gaz. 42//18.3.1991)
Economic and Technical Cooperation
- Agreement on economic and technical cooperation, Athens 21.2.1976. Law 537/7.2.1977 (Gov. Gaz. 35//9.2.1977). Came into force 20.6.1977 (Gov. Gaz. 248//3.9.1977)
- Protocol of 6th Session of Joint Inter-Ministerial Committee on technical and economic cooperation, Athens, 1.11.1991(.4070).
- Memorandum of Understanding (Special Greek-Libyan Committee on debt- related issues), Athens 7.5.1998 Min. Decision 29.3.1999 (Gov. Gaz. 79//14.4.1999)
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III. Political relations
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Relations between the two countries have a long history, dating back to the 7th century BC, when a Greek colony was founded at Cyrenaica by settlers from Thera. The first historical reference to and description of Libya (meaning Africa more generally) is to be found in the works of Herodotus.
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Relations between the two countries today have important potential for further development, following the start of proceedings to bring Libya back onto the international scene in December 2003, when the Libyan leader formally renounced programmes to develop weapons of mass destruction, and following the recent lifting of EU sanctions against Libya in October 2004.
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The highest level bilateral vists took place in 1984 (September, visit of the then Prime Minister A. Papandreou to Tripoli; November,*Tripartite Meeting of Messrs Papandreou, Mitterand, and Qaddafi in Elounda, Crete ).
Bilateral visits since the lifting of UN sanctions in 1999 have included that by the then Deputy Foreign Minister, G. Kranidiotis, to Tripoli in September 1998, the visit made by the Libyan Foreign Minister, Mr. Mohammed Shalgam, to Athens in December 2002, and the visits of Minister for Tourist Development, Mr D. Avramopoulos (Tripoli, May 2005) and Deputy Foreign Minister, Mr G. Valinakis (Tripoli, July 2005).
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V. Economic and trade relations
Libya was the 2nd most important client for Greek products among Arab countries in 2007. Bilateral trade relations show significant fluctuations and the trade balance shows a permanent deficit to the detriment of Greece, which is exclusively due to imports of crude oil.
Libya was Greeces 3rd most important supplier in crude oil for 2007, ahead of Saudi Arabia.
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Trade
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Year
Exports
Imports
Balance
2000
21,8 m. Euro
261,1 m. Euro
-239,30 m. Euro
2001
42,09 m. Euro
250,5 m. Euro
-248,41 m. Euro
2002
98,83 m. Euro
241,34 m. Euro
-142,51 m. Euro
2003
69,49 m. Euro
326,74 m. Euro
-257,25 m. Euro
1st 9 months of 2004
96,57 m. Euro
335,10 m. Euro
-141,66 m. Euro
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External trade between Greece and Libya is dominated by the following products, in order of importance: oil and oil derivatives, iron and steel, organic chemicals, minerals and electrical machinery and appliances.
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Figures available for 2004 would seem to indicate the beginning of a growth in trade which, if sustained, could well lead to new prospects for business and trade dealings between the two countries. Bearing in mind the stratification of bilateral trade, which is heavily weighted towards oil and oil derivatives, it is fair to say that there are substantial prospects for the expansion and development of bilateral economic and trade relations, given the significant changes occurring in the Libyan economy.
Investments: Greek investment activity in Libya consists mainly in the presence in the country of the Hellenic Petroleum company, which along with the Australian Woodside Energy Ltd. and the Spanish Repsol YPF has signed a four-party joint venture agreement with the Libyan Oil Company (NOC), envisaging a programme of research and exploitation of hydrocarbons over a period of 30 years and to the tune of US $100m. Other Greek companies active in Libya are MARITECH S.A., which has a subsidiary operation in Tripoli (engaged in installing optic fibre telecommunication links along the Libyan coast), as well as the construction companies ARCHIRODON S.A. (Tripoli), ATHINA S.A. (Tripoli),*E.T.E.P. (Tripoli), SIKELIS (Ben Ghazi), and INTRACOM S.A. (as INTRACOM LIBYA BRANCH*- Tripoli).
Tourism: There are major investment opportunities in a country which, whilst undergoing rapid development of her tourist infrastructure, is at the same time becoming known as a popular international tourist destination thanks to her natural beauty and ancient remains. Tourist visits to Libya can be made mainly with organized groups (through tourist bureaus).
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V. Cultural relations
A major cultural event of interest to Greece was the organization of the APOLLONIA 2003, arranged to mark the Cultural Olympiad by the Greek Community and Schools of Ben Ghazi, with the assistance of the Greek Embassy (Ben Ghazi and Cyrene, 9-11/5/2003).
Cultural bodies with Greek ties include the Archaeological Department of the University of Ben Ghazi.
VI. The Greek community
The Greek community constitutes an important bridge for communication between the two countries. There have been Greeks in Tripoli and Ben Ghazi for many generations, with their own Community Organizations and Orthodox churches respectively. There are also Greeks working for companies in Libya, some with Greek connections, some entirely foreign.