GNA-Turkey Sign Agreement to Boost Trade, Economic Ties

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On Thursday, the Minister of Planning of the Libyan Government of National Accord (GNA), Al-Hadi Al-Taher Al-Juhaimi, and the Turkish Trade Minister Ruhsar Pekcan, signed a memorandum of understanding (MoU), to enhance trade and economic ties between the two countries.

In a press conference, Al-Juhaimi said that Turkish firms contribute to 20 percent of the investment projects in the country. He added that the MoU was an important step in order to solve the issues of stalled projects from 2011, worth $16 billion. New projects and investments for the country are also to be expected.

As soon as the conflict ends in Libya, the country will focus on new development plans. It is willing to partner with Turkish companies under this development plan, he stated.

Pekcan said that some construction projects by Turkish companies in Libya had recently been interrupted. She noted that there were uncertainties regarding the completion of these projects, and Turkish companies had remaining receivables for these projects.

“The signed document will facilitate the conclusion of bilateral negotiations between our companies, and Libyan employers’ management. This is in a way that will produce solutions, and serve as a guiding document in this sense”, Pekcan stated.

Turkey backs the Tripoli-based Government of National Accord (GNA), and has signed agreements on maritime boundaries, as well as on security and military cooperation last year.