(5 minutes read)
· Turkish and African businesspeople will meet at a virtual Turkey-Africa Economy and Business Forum today and tomorrow to explore newer opportunities amid the COVID-19 pandemic
· Forum is being organized to evaluate business opportunities in Africa during the pandemic period as well as the post-pandemic era
· Forum is expected to see the participation of President Recep Tayyip Erdoğan, Trade Minister Ruhsar Pekcan and representatives from 15 trade and industry ministries from African countries.
Turkish and African businesspeople will meet at a virtual Turkey-Africa Economy and Business Forum today and tomorrow to explore newer opportunities amid the COVID-19 pandemic.
DEIK Turkey-Africa Business Councils Coordination Chairperson Berna Gözbaşı observed that the forum is being organized to evaluate business opportunities in Africa during the pandemic period as well as the post-pandemic era. The meeting also will explore the possibilities of reaching out newer markets and potential purchasers, establishing new trade and investment partnerships and finding new financial tools to facilitate trade and investment.
The forum is expected to see the participation of President Recep Tayyip Erdoğan, Trade Minister Ruhsar Pekcan and representatives from 15 trade and industry ministries from African countries. High-level representatives from the African Union and African Development Bank will also participate in the deliberations of the meeting along with representatives of private sector institutions from both Turkey and African countries. The chairpersons of trade and industry chambers will also participate in the event.
Turkey’s exports to African countries increased by 10.2% in 2019, at $16.6 billion (TL 129.2 billion). Of the total exports of Turkey, 8.5% were destined to Africa in 2018. The continent’s share increased to 9.2% in 2019 taking the trade volume with African countries to US$22.4 billion. It has set a target of taking exports from Turkey to US$50 billion annually in the conceivable future.
According to the 2019 DEIK Foreign Investment Index, foreign investments from Turkey to Africa reached US$46 billion with an increase of 11% in contrast to the recession in global investment flows last year after the decline in 2016 and 2017. Cooperation in Sectors including finance, health, technology, science, industrialization, infrastructure, investments and entrepreneurship will come up for discussion at the Forum
