Turkish trade agreement with Libya comes into force

Preferential treatment for Turkish companies in reconstruction

16 October, 18:09

    A Turkish ministerial delegation visits Tripoli, Libya A Turkish ministerial delegation visits Tripoli, Libya

    ISTANBUL - A Memorandum of Understanding entered into force on Friday that had been signed in August between Turkey and Libya.

    The MoU provides for the completion of business projects that had been interrupted due to the war and for the starting of new trade initiatives.

    The agreement, according to Turkish trade minister Ruhsar Pekcan, will make it possible for Turkish companies to resume their activities in North Africa and their trade dealings with their Libya counterparts.

    The agreement is ''significant in terms of the investments of our companies involved in the reconstruction of Libya'', Pekcan said.

    Last year, Turkey and Libya signed a controversial MoU on security and the demarcation of maritime borders, which had paved the way for Turkey's decisive military support for the UN-recognized government under Fayez al-Sarraj against militias under the command of General Khalifa Haftar.

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