Libya and Turkey have taken a new step to strengthen their economic relationship by signing a Goodwill Agreement focused on cooperation in mining, energy, and infrastructure.
The agreement was formalized during a signing ceremony held in Istanbul on Thursday, marking a renewed effort to enhance bilateral trade and investment across key sectors.
The agreement was signed between the Turkish-Libyan Business Council, under Turkey’s Foreign Economic Relations Board (DEIK), and three major Libyan entities: the National Mining Corporation, the General Authority for Exhibitions and Conferences, and Emaar Libya Holding Company.
The signatories were Murtaza Karanfil, president of the Turkish-Libyan Business Council, and Fouad Al-Awam, CEO of Emaar Libya Holding.
The partnership aims to expand trade volume, create new investment opportunities, and support Libya’s reconstruction process, especially in the eastern region. Karanfil noted that Libya’s strategic sectors, including energy and infrastructure, are priorities for Turkish companies, which are eager to contribute their technical expertise and capital.
Karanfil highlighted that Libyans continue to view Turkey as a trusted partner, not just a foreign ally. He said the shared cultural and historical ties make cooperation natural and mutually beneficial. Over the last decade, trade volume between the two countries has remained around $4 billion annually. The goal now is to increase that figure significantly, reaching $15 billion in the coming years through targeted agreements and expanded market access.
Fouad Al-Awam emphasized Libya’s interest in developing long-term strategic ties with Turkey, particularly in economic areas that support national recovery and development. He expressed his company’s intent to sign additional agreements focused on energy and infrastructure and announced a plan to establish a permanent market in Libya for Turkish goods, creating a direct channel for expanding trade.
