Papoulias, whose two-day state visit marks the the first visit by a Greek head of state to the Arab country in 37 years, said Greece hoped to further improve ties with Libya and wanted to work together with the African country toward building equal and constructive relations between the AU and EU.

Accompanied by 25 business leaders from the oil, gas, shipping,banking, construction and telecommunications sectors, the Greek president also met with Libyan Prime Minister Baghdadi Mahmoudi ontrade and investment.

Papoulias said after the meeting that the two sides had established a common position on cooperation in the oil industry.

For the Libyan part, the prime minister welcomed Greek businessmen to invest in Libya and said the two countries would soon sign investment and other cooperative agreements.