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Türkiye and Libya have taken another step to strengthen their economic partnership with two new memoranda of understanding (MoUs) signed on Thursday covering contracting receivables and future infrastructure projects.
The accords were finalized in Istanbul by Turkish Trade Minister Omer Bolat and his Libyan counterparts, Economy and Trade Minister Muhammad al-Huwayj and Transport Minister Muhammad Salem Al-Shahoubi, during the 5th Türkiye-Africa Business and Economic Forum.
The Turkish Trade Ministry said the contracting MoU was designed to facilitate the recovery of long-overdue receivables owed to Turkish construction firms in Libya. The agreement builds on discussions held between the two countries’ delegations in Ankara last September.
Officials described the move as the start of a new phase for Turkish contractors, who are expected to take part in upcoming development and infrastructure projects across Libya as stability gradually improves.
Both governments reaffirmed their goal of expanding bilateral trade, which totaled $3.7 billion in 2024. They also identified key sectors for future collaboration, including hydrocarbons, renewable energy, mining, customs, banking, and healthcare.
According to the ministry’s statement, discussions also covered plans to revive joint business mechanisms, which had slowed in recent years due to security challenges in Libya.
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The sides agreed to organize a Türkiye-Libya Investment and Business Forum and to convene the 22nd meeting of the Türkiye-Libya Joint Economic Commission (KEK) in Tripoli on Dec. 16–17.
They also signed a Joint Declaration establishing a Joint Economic and Trade Commission (JETCO) and finalized the minutes of the second meeting of the Türkiye-Libya Joint Working Group. Both texts, according to the official readout, provide a “roadmap for subsequent work” between the two countries.
Libya has become an increasingly important partner in Türkiye’s regional outreach. Alongside the new trade and contracting frameworks, the two countries maintain a maritime boundary agreement signed in 2019.
In June, Turkish Petroleum and Libya’s National Oil Corporation (NOC) reached an agreement to carry out seismic exploration in Libyan offshore zones—an initiative viewed as a continuation of Ankara’s broader energy cooperation with North African nations.
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