The Tripoli based Libyan Minister of Economy and Trade, Suhail Aboushiha, met with the Minister of Trade of Turkey, Ömer Bolat, to discuss ways to strengthen economic and commercial relations between the two nations, as well as to expand areas of cooperation and joint investment.
The meeting took place on the sidelines of the 42nd Ministerial Session of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC) in Istanbul.
The discussion focused on collaborative efforts to reach the target of increasing the volume of trade between Libya and Turkey to US$ 5 billion.
This, the Ministry said, is to be achieved by revitalizing trade exchanges, broadening private sector participation, and creating new opportunities for investment partnerships between companies from both countries.
The two sides also discussed holding the inaugural meeting of the Libyan-Turkish Joint Economic and Trade Commission (JETCO), alongside a Libyan-Turkish Business and Investment Forum.
The Ministry said such an initiative would bring together business leaders and investors to explore available opportunities within priority economic sectors.
Furthermore, the meeting addressed challenges faced by Turkish companies operating in Libya, followed up on matters related to construction and contracting projects, and explored the development of a legal framework for trade and investment relations—aiming to foster a more stable and transparent environment for economic cooperation.
Both parties underscored the importance of continued coordination and consultation in the coming period, with the goal of elevating Libyan-Turkish economic relations toward a broader partnership rooted in mutual interests, investment, and economic integration.