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Reuters May 20, 2010: 9 short months ago / Obama White House / Clinton State Department

The United States and Libya signed a trade agreement on Thursday underlining their switch from decades-long hostility to lucrative business ties.

* Agreement sets up joint trade, investment council

* Washington to advise Libya on WTO membership bid

* U.S. firms seeking share of lucrative Libyan market

U.S. companies lagged their European rivals in entering the Libyan market after international sanctions on Tripoli were lifted in 2004. Washington is now striving to catch up.

Under the agreement, a joint council will be set up to handle issues including market access and intellectual property, and Washington will help Libya with its application to join the World Trade Organization (WTO), officials said.

"The importance of this agreement is to build trust," Libyan Trade Minister Mohamed Hweji told Reuters.

Christopher Wilson, Assistant U.S. Trade Representative for Europe and the Middle East, was in the Libyan capital to sign the agreement.

From CNN World: 12.20.03

Bush, Blair: Libya to dismantle WMD programs

Libya has tried to develop weapons of mass destruction and long-range missiles in the past, but has agreed to dismantle the programs, President Bush and British Prime Minister Tony Blair said Friday in simultaneous televised speeches.

Bush said Libya's leader, Col. Moammar Gadhafi, had "agreed to immediately and unconditionally allow inspectors from international organizations to enter Libya.

"These inspectors will render an accounting of all nuclear, chemical and biological weapons programs and will help oversee their elimination," Bush said.

Libya's nuclear weapons program was "much further advanced" than U.S. and British intelligence had thought, and included centrifuges and a uranium enrichment program, all necessary components in making a nuclear bomb, a senior administration official said Friday.Hans Blix, the former chief U.N. weapons inspector, said Saturday Libya's decision to dismantle its weapons of mass destruction, is "welcome" and surmised the action might have been spurred by Gadhafi's fear over "what he saw happen in Iraq."

AFTER HAVING BEEN BOUGHT AND PAID FOR BY THE MUSLIM BROTHERHOOD FOR 30 YEARS ... Col. Moammar Gadhafi's "rapprochement" with the Great Satan (the United States) was seen as the vilest type of betrayal by the Muslim Brotherhood...

This is the 1st opportunity that the Brotherhood has had for “payback” for what was seen by the “Brotherhood” as treason on the part of Gadhafi.

The outcome will rest with the Military, just like in Egypt. After the killing stops either Gadhafi or the Brotherhood will remain standing …

Democracy? Please, let’s be serious. After 40 years of authoritarian rule under Col. Moammar Gadhafi, Libya doesn’t have a single vestige of Democratic Government.

Either Gadhafi or the Brotherhood will win… and for the people of Libya it may well be a case of out of the frying pan and into the fire …