Turkey, Libya sign cooperation accord

Turkey, Libya sign cooperation accord

BENGHAZI - Anatolia News Agency
Turkey, Libya sign cooperation accord

Turkey’s Minister of Science, Industry and Technology Nihat Ergün speaks during the second Turkish-Arab Industry Cooperation Conference in Benghazi. REUTERS photo

Turkey and Libya have signed a memorandum of understanding for cooperation in industry and technology.

The memorandum was written during a visit by Turkish Science, Industry and Technology Minister Nihat Ergün to Libya on the sidelines of the second Turkish-Arab Industry Cooperation Conference held in Benghazi.

Ergün said the agreement would allow for the preparation of a strategy document and an action plan to create financial support devices for small- and medium-scale enterprises as well as setting up industrial zones and technology parks.

Ergün said Turkey was ready to share its experiences in industrialization with Libya, adding that an environment should be created where both countries would win.

Libyan Industry Minister Mahmoud Ahmad al-Fitisi said a new Libya was being established and they would like to receive technical assistance from Turkey, particularly in industry.

Meanwhile the economy minister said nine Turkish firms were taken off the list of institutions that Libya took hold of the assets of. The Libyan National Transitional Council had introduced a law and seized the assets of many firms active in Libya including Turkish firms, he said.

Other nations still on list
“We find it meaningful that other firms that Turkish firms do business with have been taken off the list,” he said.

Libya had taken a cautionary judgment on the assets of 338 institutions and individuals owing to suspicions that these entities had links with the Gadhafi regime.

Noting that Libya is a very significant market for the Turkish contracting sector, he said Turkish contractors had constructed many buildings which were ruined during the revolution free of charge.
“We have talked [with the Libyan government] about Turkish contracting firms’ returning to Libya. Payments of progress billing are scheduled,” he said.

Turkey will sign a deal regarding the payments of ongoing construction projects, he said.

The Ministry of Economy is working on all the losses Turkish firms have suffered in Libya, he added.