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Libya and Turkey’s trade MoU takes effect

The memorandum of understanding (MoU) signed between Libya and Turkey last August for incomplete projects in Libya became effective, the Turkish trade minister said Friday.

The agreement, published in Turkey and Libya’s official gazettes, will enable the Turkish contracting firms to continue their projects in Libya, Turkish minister Ruhsar Pekcan tweeted.

“With the MoU, Turkish companies will be able to start negotiations with Libyan employers and conclude their business processes,” Pekcan said.

“I wish the decision, significant for investments of our companies which would take part in the reconstruction of Libya, will be beneficial to our business world,” she added.

The MoU will lay the groundwork to resolve ongoing issues between Turkish firms and Libyan employers, make new investments, and undertake new projects, the minister said earlier in August.

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