Business

Turkey exported $2.2 billion of products to Libya in 11 months

Murtaza Karanfil, Chairman of the Foreign Economic Relations Board (DEIK) Turkey-Libya Business Council, stated that Libya’s 500-year-old friendship with Turkey is also reflected in inter-country trade. “As a producing country, we have an important contribution to meet the needs of Libya, but we know that this contribution will be more stable with investments to be made in the country, not with exports, and we think that investments should be made in the country.”

DEIK/Turkey-Libya Business Council shared the export figures of Turkey to Libya in November in its written statement. Accordingly, while Turkey realized an export of $247 million to Libya in November, its 11-month total exports reached $2.2 billion. While the increase in exports in the 11-month period was 64% compared to the same period of the previous year, there was an 87% increase in November compared to the same month of the previous year.

In November, Libya bought jewellery, furniture, paper and forest products, chemicals and products, grains, pulses and oilseeds, respectively, from Turkey.

“THE HIGHEST INCREASE IN NOVEMBER WAS IN SHIP AND YACHT PRODUCTS”

Karanfil, whose comments on the subject were included in the statement, stated that in November, jewelery ranked first among the products Turkey exported to Libya.

Karanfil said, “In the specified period, we exported more than $36 million in jewellery, $31 million in furniture, paper and forestry products, $29 million in chemicals and products, and $27 million in grains, pulses and oilseeds from Turkey to Libya. The biggest increase in exports was in ship and yacht products with an increase of 1.468%.”

“INVESTMENTS MUST ENSURE LIBYA TO BE A SELF-SUPPLIED COUNTRY”

Stating that there is an ancient friendship between Turkey and Libya for more than 500 years and this friendship is also reflected in commercial relations, Karanfil said, “There is an increasing commercial volume between the two countries. As Turkish business people, we contribute significantly to meeting the basic needs of Libya and increasing the well-being of the people through the trade we carry out with Libya. With the trade we carry out, we are also fulfilling our humanitarian duty to Libya as a country.”

Karanfil emphasized the importance of the investment steps that Turkish business people will take in Libya and said:

“As a producing country, we have an important contribution to meet the needs of Libya, but we know that this contribution will be more stable with investments to be made in the country, not with exports, and we think that investments should be made in the country. We should support the country to become productive and self-sufficient with the investment steps that our Turkish business people will take in Libya. The investments will also have an impact on increasing employment in the country and strengthening its position in the world economy. This will also help strengthen commercial and humanitarian relations between the two countries.”

Source: Sabah / Translated by Irem Yildiz

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