Ankara, July 18, 2025 – The Europe Today: Türkiye and Libya have signed a significant memorandum of understanding (MoU) to enhance bilateral cooperation in the fields of mining, energy, and infrastructure, aiming to deepen economic ties and increase trade volume between the two countries.
The agreement was signed Thursday by leading institutions including the Foreign Economic Relations Board of Türkiye (DEIK), Türkiye-Libya Business Council, Libyan National Mining Corporation, Libya’s General Authority for Exhibitions and Conferences, and Emaar Libya Holding Company.
Murtaza Karanfil, Chairman of the DEIK Türkiye-Libya Business Council, and Fouad Al-Awwam, CEO of Emaar Libya Holding Company, were the signatories of the MoU. The agreement specifically targets increased collaboration in eastern and southern Libya, where recent discoveries of rich mineral deposits have opened new investment opportunities.
Speaking at the signing ceremony, Karanfil emphasized the deep-rooted historical ties between Türkiye and Libya, noting that Emaar Holding, which comprises 30 companies operating in sectors including industry, plays a key role in Libya’s economic landscape, particularly in its eastern and southern regions.
“As Turkish businesspeople, we already cooperate across all parts of Libya. However, this new partnership with Emaar Holding will allow us to strengthen our presence and engagement particularly in eastern Libya, giving us a significant strategic advantage,” he stated.
Trade Volume and Strategic Minerals
In an interview with Anadolu Agency, Karanfil disclosed that Türkiye’s exports to Libya had declined to around $2.5 billion following the post-2014 instability in the North African country and have remained at that level for nearly a decade. The total bilateral trade volume currently stands at approximately $4 billion.
He underlined the importance of the new agreement in helping reverse that trend. “This MoU is an important step toward increasing trade volume and revitalizing economic cooperation, especially with eastern Libya,” he said.
Karanfil further highlighted the significant mineral reserves discovered in southern Libya in recent years, saying: “We have requested geological maps of mining sites, particularly in the south, and details on priority areas for investment and cooperation.”
He added that Türkiye plans to promote its mining sector in Libya through business-to-business (B2B) meetings and increased company participation.
Expanding Turkish Presence in Energy Sector
Karanfil also stressed the importance of expanding Türkiye’s presence in Libya’s energy sector, noting that currently only six Turkish companies are registered with the Libya Mining Group. “We intend to grow this number and expand collaboration in the energy field,” he said.
He described Libya as “both the gateway to Africa and Africa’s gateway to the world,” underlining the country’s strategic value for regional and global trade.
Libyan Perspective: Strong Economic Synergy
Fouad Al-Awwam, CEO of Emaar Libya Holding, welcomed the agreement and praised Türkiye’s strength in the energy and economic sectors.
“As Emaar Holding, we will sign more sectoral agreements with Türkiye,” he said. “Our objective is to build a sustainable market for Turkish products in Libya and facilitate their distribution across the region.”
The agreement signals a renewed commitment by both nations to enhance their strategic partnership and unlock new opportunities in critical sectors of mutual interest. Further technical cooperation and implementation measures are expected to be discussed in upcoming bilateral forums.
