Tuesday, August 23, 2011
Gökhan Kurtaran-ISTANBUL
Turkish firms mainly in the construction business operating in Libya are eyeing a chance to return to “new Libya,” after months of absence due to political turmoil and a civil war in the country that has cost them billions of dollars.
“Nearly $141 billion of assets are frozen by the Western nations and [the Libya administration] may pay Turkish companies once these funds are released,” Ersin Takla, chairperson of Turkish-Libyan Business Council at Foreign Economic Board of Turkey, or DEİK, told the Hürriyet Daily News in a phone interview.
Both Turkey and Western countries are still waiting for clashes to calm down, according to Takla. “There is no doubt that Turkey will benefit from recognizing Libya’s main opposition group as the country’s legitimate government almost a month ago,” he said.
According to him, the Libyan opposition groups have already acknowledged previously granted rights of Turkish business during the Libya Contact Group meeting on July 15 in Istanbul. Takla said the business council was recently invited to Libya by the Libyan opposition.
Turkey still has $2.5 billion in assets, funds and pending payments in Libya, Takla said, adding that the firms have $950 million worth of assets in the country, $1.4 billion in overdue payments and nearly $100 million in Libyan banks. Turkish companies undertook $7.627 billion worth of projects in Libya in 2009 and 2010, according to official data.
“If security can be sustained, we want the Turkish Petroleum Corporation to restart operating in Libya,” said Taner Yıldız, Turkish energy minister, Reuters reported.
“Turkey will be taking an active role in the country,” Rıza Nur Meral, the chairman of the Confederation of Businessmen and Industrialists of Turkey, or TUSKON, told the Daily News, referring to Turkey’s Foreign Minister Ahmet Davutoğlu’s official visit to Libya on Tuesday. “Turkey’s position will be discussed as well as the pending payments of Turkish companies to be paid by the new Libyan government,” Meral said, adding that the “chance that Turkish firms will return to the war-stricken country is very high.”
Speaking after the meeting with Davutoğlu in the eastern Libyan city of Benghazi, the governing council’s chief, Mustafa Abdel Jalil, said, “We will work toward making Libya stand on its feet economically.”
“The recent developments in the region will affect the Turkish firms positively,” Orhan Turan, former chairman of Association of Turkish Building Material Producers, or İMSAD, said. According to Turan, Turkish contractors might not be the only one to bid for rebuilding the run down country. “French companies might challenge Turks.”
Leading business groups believe Turkish firms will return fast and strong to the new Libya after seven hard months, reclaiming assets, businesses and unpaid money abandoned when the civil war broke out. Moreover, they see new opportunities
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Turkish firms mainly in the construction business operating in Libya are eyeing a chance to return to “new Libya,” after months of absence due to political turmoil and a civil war in the country that has cost them billions of dollars.
“Nearly $141 billion of assets are frozen by the Western nations and [the Libya administration] may pay Turkish companies once these funds are released,” Ersin Takla, chairperson of Turkish-Libyan Business Council at Foreign Economic Board of Turkey, or DEİK, told the Hürriyet Daily News in a phone interview.
Both Turkey and Western countries are still waiting for clashes to calm down, according to Takla. “There is no doubt that Turkey will benefit from recognizing Libya’s main opposition group as the country’s legitimate government almost a month ago,” he said.
According to him, the Libyan opposition groups have already acknowledged previously granted rights of Turkish business during the Libya Contact Group meeting on July 15 in Istanbul. Takla said the business council was recently invited to Libya by the Libyan opposition.
Turkey still has $2.5 billion in assets, funds and pending payments in Libya, Takla said, adding that the firms have $950 million worth of assets in the country, $1.4 billion in overdue payments and nearly $100 million in Libyan banks. Turkish companies undertook $7.627 billion worth of projects in Libya in 2009 and 2010, according to official data.
“If security can be sustained, we want the Turkish Petroleum Corporation to restart operating in Libya,” said Taner Yıldız, Turkish energy minister, Reuters reported.
“Turkey will be taking an active role in the country,” Rıza Nur Meral, the chairman of the Confederation of Businessmen and Industrialists of Turkey, or TUSKON, told the Daily News, referring to Turkey’s Foreign Minister Ahmet Davutoğlu’s official visit to Libya on Tuesday. “Turkey’s position will be discussed as well as the pending payments of Turkish companies to be paid by the new Libyan government,” Meral said, adding that the “chance that Turkish firms will return to the war-stricken country is very high.”
Speaking after the meeting with Davutoğlu in the eastern Libyan city of Benghazi, the governing council’s chief, Mustafa Abdel Jalil, said, “We will work toward making Libya stand on its feet economically.”
“The recent developments in the region will affect the Turkish firms positively,” Orhan Turan, former chairman of Association of Turkish Building Material Producers, or İMSAD, said. According to Turan, Turkish contractors might not be the only one to bid for rebuilding the run down country. “French companies might challenge Turks.”
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