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Türkiye and Libya have signed a far-reaching MoU (Memorandum of understanding) aimed at strengthening bilateral ties across mining, energy, and infrastructure sectors.
The agreement, formalised by the Foreign Economic Relations Board of Türkiye (DEIK), Türkiye-Libya Business Council, and Libyan partners including Emaar Libya Holding Company on Thursday, July 17, seeks to increase trade volumes and foster long-term collaboration, particularly in Libya’s eastern and southern regions. Murtaza Karanfil, Chair of the DEIK Türkiye-Libya Business Council, highlighted the historical depth of relations between both nations and emphasised Emaar Holding’s extensive reach, operating 30 companies across key industrial zones in Libya.
Karanfil underscored that Türkiye’s current export volume to Libya stands at $2.5 billion, part of a broader $4 billion trade relationship that has remained stagnant due to political instability in Libya since 2014. With renewed efforts to engage eastern Libya, he expressed optimism about boosting trade further, especially in sectors rich with potential such as mining. He pointed to recent discoveries of mineral reserves in southern Libya, adding that Türkiye has requested detailed mine maps to identify investment opportunities. Plans are underway to facilitate B2B meetings that will enable Turkish mining firms to establish a presence in the region.
Fouad Al-Awwam, CEO of Emaar Libya Holding, praised Türkiye’s economic and energy prowess, affirming that the partnership would also help integrate Turkish products more fully into Libyan markets. He stated that efforts are ongoing to develop a sustainable distribution network for Turkish goods and attract more Turkish companies to the Libyan mining sector. With Libya positioned as a strategic gateway to Africa and the wider world, both parties expressed confidence that this renewed cooperation could catalyse broader economic integration and shared prosperity.
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