Libya and Uganda Sign $60mn Barter Deal

Libya and Uganda have signed a $60mn barter deal under which the latter will import crude oil, tractors, cement, gypsum and fertilizers from Libya in return for Ugandan exports to Libya of coffee, beans, cotton yarn, fruit, tea and yellow maize. Uganda's imports of petroleum products are estimated at $80mn/year. A joint venture company has been set up by the two countries to handle the barter of goods in question.