Türkiye Must Develop Libya-Focused African Initiative: Turkish Trade Body

16 August 2022

Türkiye Must Develop Libya-Focused African Initiative: Turkish Trade Body

Libya is the new center of attraction for global competition and "Türkiye must develop a Libya-focused African initiative," said the Libyan representative of a Turkish business association.

"The whole world will turn to Africa for the next 100 years," Murtaza Karanfil, president of the Istanbul-based Independent Industrialists’ and Businessmen's Association (MUSIAD), said in a statement.

"We must design and develop our foreign trade reforms in a way that appeals to Africa in order not to fall behind in the race for policies to expand the dominance brought by the global order," Karanfil said.

"For this reason, in addition to the Exclusive Economic Zone Agreement signed between Libya and Türkiye and the Security and Military Cooperation Memorandum of Understanding, a new agreement must be signed. Because we fully believe that Türkiye, which has a trade volume of $28 billion with 54 countries on the African continent, will be able to move its trade with Africa to the next level thanks to the new agreements to be made with Libya," he said.

The stability and security of Libya, which is in a key position for the security of Africa, is one of the most important issues that should not be ignored in today's world, where the balance of power is quite volatile, he added.