The Minister of Economics and Trade of Libya Mohammed Huwage, after negotiations with the Minister of Trade of Turkey, Omer Bolat in Tripoli, said that the parties set the goal of increasing the volume of trade between the two countries to $ 10 billion.
“As a result of the meeting, we agreed to reconsider (activate) all previous memorandums of understanding and agreement in accordance with international economic events,” said Huwage.
According to him, negotiations with Bolat were devoted to the creation of a new model of long -term cooperation between Turkey and Libya.
Huveij, Bolat and the head of the Central Bank of Libya Naji took part at a tripartite meeting and discussed the development of economic Svyai between Ankara and Tripoli.
Following the results of negotiations, the parties reached an agreement on “promoting old projects, returning Turkish companies to their business and solving the problem of bank guarantees”,
“In this context, we have created a joint economic committee to track all the problems that companies are faced with between the Turkish and Libyan sides and achieve partnerships,” said the Libyan Minister.
The goal is to increase the trade volume to $ 10 billion per year
Currently, trade between countries is about 3.7 billion dollars
The parties discussed the issues of obtaining a residence permit, trade operations, and transfer of money. “
created a committee to activate a memorandum of understanding in 2020
Regarding the activation of the Memorandum about the understanding signed between the two countries in 2020 with regard to solving the problems of Turkish contractors, Minister Huweiji noted the following:
“Deputy Minister of Trade of Turkey and Deputy Minister of Trade of Libya formed a committee. As part of the memorandum, they began to work on the decision of the old contract system and investment issues. In accordance with the instructions of the Prime Minister Libya, a special committee was formed to resolve all the issues posed”.
Elimination of taxes between the two countries “
Minister Huweija also touched on the issue of free trade and taxes: “We want to eliminate taxes between the two countries, this is the main goal.”
He emphasized the strategic position of Libya in Africa and the Mediterranean. The minister added that Libya and Türkiye agreed to create a free trade zone for transporting Turkish industrial and commercial goods to African countries.
Turkish Minister of Trade Bolat on April 3, as part of his official visit to Libya, met with Prime Minister Dibaib.