Libya and Turkey aim for $5 billion trade target
Ministers met in Istanbul to discuss expanding economic ties and joint investment opportunities.
Libya's Minister of Economy and Trade, Suhail Aboushiha, met with Turkey's Minister of Trade, Ömer Bolat, in Istanbul to boost economic and commercial relations. The ministers discussed increasing trade volume between the two nations to US$ 5 billion. This goal is to be achieved by revitalizing trade exchanges and broadening private sector participation.
The meeting, held during the 42nd COMCEC Ministerial Session, also focused on holding the first Libyan-Turkish Joint Economic and Trade Commission meeting and a business forum. These events aim to bring business leaders together to explore investment opportunities in priority economic sectors. Discussions also covered challenges faced by Turkish companies in Libya and construction projects.
Both sides agreed to continue coordination to elevate Libyan-Turkish economic relations toward a broader partnership. This partnership will focus on mutual interests, investment, and economic integration. The Ministry stated that a stable and transparent legal framework for trade and investment is a priority.
Why it mattersLibyan and Turkish businesses and investors will explore new opportunities and face fewer challenges operating between the two countries.