Tripoli, Libya – A high-profile delegation of Turkish industrialists and business leaders has signaled a robust interest in expanding their investment footprint in Libya, as revealed by the Libyan Ministry of Economy and Trade. The delegation, led by Hakan Birkan and Yenişehir Mayor Erkan Özel, engaged in extensive discussions with Libyan Minister of Economy and Trade, Mohamed Al-Huwaij, focusing on fostering direct investments and forging strategic partnerships with local enterprises.
The meeting, held in Tripoli, underscored the growing momentum in bilateral economic relations between Turkey and Libya. The Turkish delegation expressed keen interest in various sectors, including infrastructure, construction, energy, and manufacturing, citing Libya's untapped potential and strategic location as key attractions.
Minister Al-Huwaij reiterated the Libyan government's commitment to creating a conducive environment for foreign investors. He emphasized the government's proactive measures to streamline investment procedures and ensure investor protection. "We are actively encouraging Turkish companies to register with our ministry and establish a strong local presence through branches or joint ventures," stated Al-Huwaij. "This will not only facilitate their operations but also contribute to the transfer of knowledge and technology, benefiting the Libyan economy."
The minister also extended an invitation to Yenişehir Municipality to explore twinning agreements with Libyan cities, aiming to enhance cultural and economic exchanges at the municipal level. This initiative is expected to foster closer ties between local communities and create new avenues for cooperation.
"We believe that strengthening ties at the municipal level can pave the way for broader economic collaboration," said Mayor Erkan Özel. "Twinning agreements will enable us to share best practices and explore joint projects in areas such as urban development, tourism, and small and medium-sized enterprises (SMEs)."
The Turkish delegation's visit comes at a crucial time as Libya seeks to rebuild its economy and attract foreign investment following years of political instability. The Libyan government has prioritized infrastructure development, energy sector revitalization, and diversification of the economy as key pillars of its economic recovery plan.
"The Libyan market presents significant opportunities for Turkish businesses, given our long-standing historical and cultural ties," said Hakan Birkan. "We are committed to exploring these opportunities and contributing to Libya's economic development."
The meeting concluded with a commitment from both sides to establish a joint working group to facilitate ongoing dialogue and identify specific investment projects. The Libyan Ministry of Economy and Trade has pledged to provide all necessary support to Turkish investors and ensure the smooth implementation of their projects.
The renewed interest from Turkish investors reflects the growing confidence in Libya's economic prospects and the government's efforts to create a stable and attractive investment climate. The strengthening of economic ties between Turkey and Libya is expected to contribute to mutual prosperity and regional stability.
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