Turkey’s Independent Industrialists and Businessmen Association, otherwise known as MÜSİAD, revealed that Ankara is looking to boost Turkish exports to Libya by over 571%, reaching around $10 billion compared to $1.49 billion in 2018.
ٍpeaking from Tripoli, MÜSİAD representative Murtada Koronfol said that the memorandum of understanding regarding the delineation of sovereignty areas in the Mediterranean signed between the government of Turkey and the Libyan Government of National Accord led by Fayez al-Sarraj will positively affect trade relations between Turkey and Libya.
The MoU was signed on November 27th.
According to the state-owned Anadolu Agency (AA), Koronfol said that the MoU will contribute to strengthening trade and economic relations between the two countries during the next stage.
The GNA-Turkish strong political relations will positively reflect on economic cooperation between the two.
He pointed out that Turkey's exports to Libya include clothes, furniture, foodstuffs, auto parts, building supplies alongside other sectors. Koronfol expected the value of Turkish exports to Libya to rise by 50 percent to reach 3 billion dollars in 2020.
“For us, Libya is like a gateway to Egypt, Tunisia, Algeria, and Central Africa, and if this aspect is seized well, it is possible to raise the value of exports to $10 billion,” Koronfol said, pointing out that the Libyan market has attracted Turkish contractors since the mid-70s.
Koronfol went on to explain that Libya is the third-largest country after Russia and Turkmenistan where Turkish businessmen have projects, noting that the war-torn country will soon witness reconstruction efforts.
MÜSİAD had opened a representative office in Libya last March 2019, raising the number of offices it runs abroad to 223 in 93 countries. The Association said it will continue to expand its network of representative branches in the world within the vision it adopts, known as “commercial diplomacy.”
MÜSİAD was founded in Istanbul in 1990 by a group of Turkish businessmen, it includes 11,000 members and it has 86 branches inside Turkey.