The target was discussed during a meeting in Istanbul between Turkish Trade Minister Omer Bolat and Libya’s Minister of Economy and Trade, Suhail Aboushiha.
Both officials expressed their commitment to reaching the trade goal and expanding business ties between the two countries.
Part of the plan involves organising a Turkish-Libyan Business and Investment Forum, which is expected to bring together companies and business leaders from both sides to explore investment opportunities and build new partnerships.
The discussions also addressed difficulties facing Turkish construction companies operating in Libya.
Both governments are looking at ways to resolve these challenges and make it easier for Turkish firms to continue their projects in the North African country.
The ministers also discussed improving the legal rules governing trade and investment to create a more favourable business environment, attracting new investments and encouraging the launch of additional projects, as seen in the Libya Observer.
In the last few months, Turkey and Libya have made significant moves to bolster the budding relationship between them.
Turkey and Libya strengthened ties
Towards the end of September, Libya’s Transport Minister Mohammed Al-Shahoubi and the Turkish Ambassador to Libya, Guven Begec, held a meeting to strengthen air connectivity.
The discussions took place at Libya’s Ministry of Transport, bringing together the Deputy Minister for Air Transport, the head of the Libyan Civil Aviation Authority and the Director of the ministry’s International Cooperation Office, according to an official statement.
The Turkish president made this known to Libya’s Presidential Council head, Mohamed Menfi, noting that Ankara will not support any arrangement it believes goes against Libya’s interests.
The two leaders convened in New York on the sidelines of the 81st United Nations General Assembly to deliberate on bilateral relations between Turkey and Libya, alongside broader regional developments.
The two countries have also been exploring opportunities in the energy sector.
In 2025, Turkey opened discussions with Libya, Bulgaria and Iran over possible oil and gas exploration projects.
Turkish Petroleum Corporation (TPAO) has since secured a 40% stake in a major offshore exploration joint venture in Libyan waters in the Mediterranean.
The company began pursuing opportunities in the country after Libya opened its first oil and gas exploration licensing round in nearly 20 years.
Source: africa.businessinsider.com
