ABOUNDING IN VALUABLE UNDERGROUND RESOURCES: LIBYA

Following the 2011 Arab Spring, Libya, characterized by a lack of state structure and internal division, stands as an exceptionally significant country with considerable potential

It’s of utmost importance that the Türkiye-Africa Business and Economic Forum (TABEF) is orchestrated in Istanbul under the auspices of DEİK, uniting African and Turkish business professionals. Africa is a continent abundant in valuable underground and above-ground resources, yet it struggles to harness them to its advantage. Conversely, Africa is anticipated to fulfill a significant portion of the world’s needs in the future through these valuable resources.

African countries, reliant on each other in terms of production, industry, and technology, ought to foster collaboration among themselves. Türkiye plays a pivotal role in fostering this cooperation. A primary focus in Libya is the diversification of the country’s revenues, considering that oil constitutes 96 percent of Libya’s economy. Following the 2011 Arab Spring, Libya, characterized by a lack of state structure and internal division, stands as an exceptionally significant country with considerable potential.

We are engaged in diverse activities aimed at supporting Libyans, particularly in harnessing their existing opportunities and fostering their development. Developing an industry in Libya and transforming the country into a tourism zone are among the endeavors we’re focusing on. Furthermore, in the southern region of Libya, there is a substantial underground water basin with agricultural potential. This holds significant importance for diversifying Libya’s sources of income.

As the DEİK/Türkiye-Libya Business Council, our engagements persist to enhance cooperation and promote economic diversification.