Libya’s Tripoli-based Government of National Accord (GNA) and Turkey have signed an economy, technology cooperation protocol.

Turkish Industry and Technology Minister Mustafa Varank and Libyan Central Bank Governor Al-Siddiq Al-Kabir and the Libyan Investment Authority (LIA) Chairman Ali Mahmoud signed in a meeting in Istanbul the protocol as Varank said that both countries face many threats in economic, political and military fields.

“We are fighting beside Libya against some of these common threats. It is possible to place our efforts on a more solid basis by further increasing cooperation in every field.” Turkish Industry and Technology Minister Mustafa Varank said.

Both countries will undertake joint projects in the fields of investments, entrepreneurship and technology development, as per the new protocol.

He also emphasized that the two countries are set to take steps toward cooperation in establishing venture capital funds in the coming days or “investing in funds in our country, especially to support technology-oriented initiatives.”