Trade turnover between Libya and Turkey increased by more than 40%

Bilateral trade between Libya and Turkey increased by 43%, reaching $ 2.3 billion in the two years since the start of the pandemic.

The pandemic did not prevent Libya, which is under UN Security Council sanctions, to gradually resume trade and economic relations with other countries. For example, it has just become known that trade with Turkey has grown by more than 40% in two years, exceeding $ 2 billion. This significant growth was the result of the signing of a bilateral Memorandum of Understanding, which allowed these states to make progress in developing trade cooperation. Turkey names Libya as one of the most promising foreign markets for Turkish contractors and the economy.

Ukraine, where the private airline ZetAvia is based, which carries out cargo transportation around the world with the exception of countries under sanctions and embargoes, also considers Libya to be its largest trading partner on the African continent. According to the State Statistics Service of Ukraine, in 2020, trade with Libya amounted to $ 369.8 million, of which almost 90% fell on Ukrainian exports in the form of wheat and food, the supply of which increased several times during the pandemic. It is possible that after the final stabilization of the situation in Libya, the private Ukrainian airline ZetAvia will consider the possibility of carrying out cargo charters to Libya.

It is worth noting that Turkey and Ukraine have repeatedly declared their interest in participating in the implementation of projects to restore the infrastructure of Libya, which has suffered as a result of the protracted conflict. Both of these countries are showing interest in industries such as metallurgy, energy, transport infrastructure and agriculture.

Tags: turkey; libya; ukraine; zetavia; trade