Singapore  - Singapore said Thursday that it signed investment and tax agreements with Libya.

The investment pact was aimed at promoting bilateral investment flows by protecting investors and their investments, Singapore's Trade and Industry Ministry said in a statement.

It guarantees non-discriminatory treatment of investors, compensation in the event of expropriation or nationalization of their investments, free transfer of capital and returns from investment, and access to international arbitration for settlement of investment-related disputes.

The tax pact facilitates flows of trade, investment, technical knowhow and expertise between Singapore and Libya, the ministry said.

The pacts were signed Wednesday during a visit to Tripoli by Singapore Senior Minister of State for Trade and Industry S Iswaran. (dpa)