Libya want to rebuild its strong trade and investment ties with Malta, Finance Minister Tonio Fenech said this morning.

He was speaking in Tripoli after separate meetings with the newly installed Libyan ministers of trade and industry Taher Sarkes and Mahmoud al Sepaisi.

Mr Fenech is in Libya as part of a delegation which also includes the Prime Minister and Foreign Minister Tonio Borg.

Mr Fenech said the major concern raised by the Libyan ministers was their urgent need for the UN to release Libyan funds which were frozen during the uprising against Muammar Gaddafi.

He said the Libyan officials had reiterated their commitment to settle payments due to Maltese businesses, but he said the current shortage of cash in Libya is having an impact on this. 

Mr Fenech said that during his brief and frank meetings, he had discussed ways how Malta could participate in the rebuilding of Libya and said Malta Enterprise was also offering technical assistance in the sector of small businesses.

The Libyan ministers, he said, spoke with gratitude for Malta's assistance during the past few months and said they wanted to re-establish the strong trade links which existed between the two countries.

Prime Minister Lawrence Gonzi is today due to meet new Libyan Prime Minister Abdurtahim El-Keib and may also visit Misurata, the town that for several weeks was besieged by Libyan forces but found a lifeline from Malta.