HomeEconomyTrade volume between Türkiye, Africa rises eightfold to $40.7B

Trade volume between Türkiye, Africa rises eightfold to $40.7B


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The commerce quantity between Türkiye and African nations has elevated eightfold within the final 20 years and reached $40.7 billion (TL 1.1 trillion), Deputy Foreign Minister Yasin Ekrem Serim stated Tuesday.

Speaking on the closing of the ninth World Cooperation Industries Forum (Wci Forum) held in Istanbul between Sept. 18-19, Serim emphasised that the African continent stands out because the rising worth of the twenty first century with its cultural accumulation and large potential.

“Our trade volume with Africa has increased eight times. The figure, which stood at $5.4 billion in 2003, amounted to $40.7 billion in 2022. The value of direct investments exceeded was by $6 billion,” Serim stated, including that President Recep Tayyip Erdoğan is positioned because the world chief who pays visits to the continent probably the most.

He stated that Turkish firms present employment to some 100,000 individuals in Africa and introduced that the 4th Türkiye-Africa Business and Economic Forum might be held in October.

The two-day discussion board, organized by the Turkish Foreign Economic Relations Board (DEIK) in coordination with the Trade Ministry and the African Union (AU), is anticipated to see 3,000 contributors in Istanbul on Oct. 12-13, based on Anadolu Agency (AA) studies on Wednesday.

The discussion board with the principle theme, “Addressing Challenges, Unlocking Opportunities: Building Stronger Türkiye-Africa Economic Partnerships,” prioritizes the vitality, infrastructure, agriculture, agribusiness, well being care, tourism and digital advertising sectors.

The occasion is ready to welcome President Erdoğan, African Union head Azali Assoumani, Trade Minister Ömer Bolat, and Commissioner for Economic Development, Trade, Industry and Mining on the African Union Commission (AUC) Albert Muchanga.

Highlighting Türkiye’s efforts in establishing the landmark Black Sea grain initiative at a time when crises akin to local weather change and the Russia-Ukraine battle endangered meals safety on the continent, Serim touched upon transitioning to the African Partnership Policy in 2013.

“The variety of our embassies, which was 12 in 2012, has elevated to 44. In the Nineties, solely Sudan from the sub-Sahara (zone) had an embassy in our nation, however now this quantity has reached 38 in Ankara,” he stated.

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