Libya-Turkey trade agreement enters into force

finance & economy - October 18, 2020

A Memorandum of Understanding (MoU) signed between Libya and Turkey, which allows Turkish contracting firms to continue their incomplete projects in Libya, has entered into force, said Turkish Trade Minister Ruhsar Pekcan on Friday.

'The agreement entered into force as of September 24, according to a presidential decree published in Turkey's Official Gazette,' Pekcan tweeted.

She noted the importance of this agreement, as it gives the Turkish companies the green light to start negotiations with Libyan employers and conclude their business processes, whishing the Turkish companies engaged in the reconstruction projects in Libya every success.

Turkish Trade Minister Ruhsar Pekcan signed on August 13 last, an MoU with Libyan Minister of Planning, Al-Taher Al-Juhaimi, regarding suspended Turkish projects in Libya.

Pekcan explained at the time that the understandings aim to lay the ground for Turkish contracting firms to complete their projects in Libya and solve outstanding issues with the Libyan employers.


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