ANKARA - The 19th meeting of Turkey-Libya Joint Economic Commission (JEC) started in Ankara this morning.
Turkish State Minister Kursad Tuzmen and Labor and Infrastructure Minister Muhammad Matuk Muhammad of Libya are presiding the delegations of their respective countries.
Making opening remarks of the meeting, Tuzmen said that a comprehensive economic and commercial cooperation among the regional powers would help efforts to create an atmosphere of peace and stability in the region.
Recalling that the trade volume between Turkey and Libya reached 1.3 billion U.S. dollars last year, Tuzmen said that exports from Turkey to Libya increased by 12 percent in the first half of 2004.
''We target to increase our trade with Libya to a volume up to 3 billion U.S. dollars by the end of the year,'' he said.
''In order to reach this target, we should sign a series of agreements to prevent double taxation, to encourage and protect investments mutually and to cooperate in customs and in agriculture. Also, the most important project, as regards bilateral relations with Libya, is the formation of a free trade zone'' Tuzmen noted.
(UK-ULG) 05.08.2004