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Libya considers Turkey its key strategic trade ally
(MENAFN) Libya views Turkey as its "number one" strategic trade partner, particularly in sectors like infrastructure, oil, energy, health, and economic development, according to Libya's Minister of Economy and Trade, Mohammed al-Huwayj, in an interview with Anadolu.
Al-Huwayj emphasized that Libya is focused on diversifying its economy as quickly as possible, with energy being a critical sector due to its central role in transportation, agriculture, services, and industry. He noted that Turkey’s experience in these fields is highly regarded, and Libya plans to leverage this expertise for its development.
He also revealed that both countries are working towards finalizing a free trade agreement, with plans to renew all previous agreements and memorandums of understanding to encourage further investments.
Both Turkey and Libya are members of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation, and they are nearing the completion of an agreement aimed at eliminating double taxation.
"We will meet with the Turkish trade minister and other relevant ministries to finalize a free trade agreement and resolve challenges between the two countries," al-Huwayj said.
Al-Huwayj emphasized that Libya is focused on diversifying its economy as quickly as possible, with energy being a critical sector due to its central role in transportation, agriculture, services, and industry. He noted that Turkey’s experience in these fields is highly regarded, and Libya plans to leverage this expertise for its development.
He also revealed that both countries are working towards finalizing a free trade agreement, with plans to renew all previous agreements and memorandums of understanding to encourage further investments.
Both Turkey and Libya are members of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation, and they are nearing the completion of an agreement aimed at eliminating double taxation.
"We will meet with the Turkish trade minister and other relevant ministries to finalize a free trade agreement and resolve challenges between the two countries," al-Huwayj said.
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