Trade exchange between Libya and Turkey up by 43% in two years

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Trade exchange between Libya and Turkey up by 43% in two years

November 27, 2021 - 14:47
Written by: SafaAlharathy

Trade exchange between Turkey and Libya has risen by 43% over the past two years, says the Turkish-Libyan Business Council Head Mortada Kronfil.

In a statement issued by the Turkish Foreign Economic Relations Council to mark the second anniversary of the MoU signed between Turkey and Libya regarding maritime jurisdiction areas, Kronfil said the two countries are making progress in several areas, thanks to the MoU.

This agreement is crucial in terms of national security, the economy, and other fields, Kronfil added, indicating that Libya is of most importance to his country as it is the first foreign market for Turkish contractors and the Turkish economy.

According to the statement, the volume of trade between Turkey and Libya amounted to $2.3 billion, and that had it not been for the outbreak of the Covid-19 epidemic, the figures would have been higher, expecting the bilateral trade volume to increase to more than $3 billion for the first time by the end of this year.