Minister Bolat: Trade volume between Türkiye and African countries has increased sevenfold in 22 years

Speaking at the Turkey-Africa Business and Economic Forum, Trade Minister Ömer Bolat said, “The trade volume between Turkey and African countries has increased sevenfold in 22 years. Furthermore, Turkish investors in the industry, trade, services, and agriculture sectors have made direct investments exceeding $15 billion in African countries, and construction investments totaling $97.5 billion have been undertaken on 2,043 development and investment projects on the African continent. Meanwhile, the number of Türkiye's embassies in African countries has increased from 12 to 44. The number of our trade counselors has also increased from 5 to 31.”

Trade Minister Ömer Bolat and African Union Commissioner for Economic Development, Trade, Tourism, Industry, and Mining Francisca Tatchouop Belobe announced at a joint press conference that a joint declaration would be released at the forum's closing ceremony. The forum aims to bring together ministers, deputy ministers, high-ranking public officials, and approximately 3,000 businesspeople from 54 African countries and Türkiye.

'97.5 BILLION DOLLARS WORTH CONSTRUCTION INVESTMENTS WERE REALIZED IN AFRICA WITH 2,043 PROJECTS'

Speaking at a joint press conference, Minister of Trade Ömer Bolat said, “In 2003, Türkiye’s foreign trade with Africa rose to $5.4 billion and $37 billion last year. We estimate it will reach $40 billion by the end of this year. Thus, the trade volume between Turkey and African countries has increased sevenfold in 22 years. Furthermore, investors from Türkiye in the industry, trade, services, and agriculture sectors have made direct investments exceeding $15 billion in African countries, and construction investments totaling $97.5 billion have been undertaken for development and investment projects on the African continent. Meanwhile, the number of Turkish embassies in African countries has been increased from 12 to 44. The number of our trade counselors has also increased from 5 to 31. The number of destinations to which Turkish Airlines flies in Africa has also increased to 62. Today, Turkish Airlines connects all African people to the world via Istanbul. The African continent, with a population exceeding 1.5 billion, is expected to reach 2050.” "In 2010, it will constitute a quarter of the world's population. With its rich resources, domestic market, and young population, Africa will become the driving force of the world's future economic development. As the Republic of Turkey, our perspective on Africa is built on the principles of brotherhood, justice, and equality, mutual respect, and win-win relations with the continent's countries. Six Turkish ministers will also contribute to this summit, participating in panels and holding bilateral meetings with their esteemed colleagues from Africa in areas such as food production, textiles, pharmaceuticals, energy, mining, logistics, and infrastructure financing. A joint declaration will be shared with you at the conclusion of these efforts," he said.

DHA

Reporter: Aysegul Keskin