(4 minutes read)
· The Government of National Accord (GNA) and Turkey have signed an economy, technology cooperation protocol to strengthen the economic cooperation between the two countries
· Based on the new protocol, both countries will undertake joint projects in the fields of investments, entrepreneurship and technology development
· Both countries will also work together on the usage of new technologies in the financial system, conduct research and development in the regulation of financial technologies, and establish technology workshops for young people
The Government of National Accord (GNA) and Turkey have signed a technology cooperation protocol to strengthen the economic cooperation between the two countries.
This was signed at a meeting in Istanbul in the presence of Turkish Industry and Technology Minister Mustafa Varank, Libyan Central Bank Governor Al-Siddiq Al-Kabir and the Libyan Investment Authority (LIA) Chairman Ali Mahmoud.
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Based on the new protocol, both countries will undertake joint projects in the fields of investments, entrepreneurship and technology development. There is a feeling that both countries have strong cooperation in political and social areas, but lags behind in giving an economic focus to the bilateral relations. Both countries will also work together on the usage of new technologies in the financial system, conduct research and development in the regulation of financial technologies, and establish technology workshops for young people. There will be focus on establishing venture capital funds in the coming days especially to support technology-oriented initiatives.”
Meanwhile, Al-Kabor said the Central Bank of Libya closely follows Turkey’s banking system, which is compatible with the banking systems of developed countries. Al-Kabir indicated that the Central Bank of Libya welcomes the establishment of technology centers and stressed the need for setting up training centers for human resources development, particularly in the financial sector.
