Istanbul The 11th Forum for Cooperation between Türkiye and Africa concluded its activities last Thursday in the Turkish city of Istanbul under the slogan “Investment in Africa is an investment for the future.”
The forum, which extended over two days, discussed ways to enhance cooperation between Turkey and the African continent, open new horizons for trade partnerships, and brought together 1,500 participants from 54 African countries.
It also witnessed wide participation from Turkish companies operating in various sectors, and its activities included a special exhibition, in addition to allocating space for bilateral meetings between participants, to enhance interaction and build direct commercial relationships.
Opportunity for business
In his opening speech of the forum, Turkish Trade Minister Omer Polat stressed the growing importance of the forum, which since its launch has become a major station for cooperation between Turkey and the African continent, providing new opportunities for businessmen seeking to expand their activities in Africa or enter the Turkish market.
Polat reiterated that Turkey adopted in 2003 a strategy aimed at strengthening trade and economic relations with the countries of the African continent, and this led to the launch of many successful projects and partnerships that contributed to strengthening ties between the two sides.
Polat pointed out the misconception about the distance between Turkey and Africa, explaining that the continent is not as far as some believe, as it can be reached within one hour by plane from southern Turkey, adding that the deep historical relations between Turkey and Africa enhance this rapprochement.
The Turkish Minister touched on the development of bilateral relations since 2013 within the framework of the “Partnership Policy with Africa,” noting that the number of Turkish embassies in Africa jumped from 12 in 2003 to 44 in 2024, with expectations that the number will exceed 50 embassies soon.
Polat added that Türkiye now has 31 commercial offices in Africa, compared to only 4 offices in 2003, which reflects the remarkable expansion in bilateral economic relations.
The Minister stressed the growing strategic importance of Africa in the international system, noting that the continent, thanks to its economic potential, is expected to reach a gross domestic product of $3 trillion with an estimated growth rate of 3.7% in 2024. He also explained that 11 out of 20 countries are candidates to achieve The fastest economic growth in the world this year is in Africa.
Growth of exports and investments
Polat stressed that trade relations between Turkey and Africa have witnessed a qualitative leap over the past two decades, as Turkey’s exports to the African continent have multiplied 10 times since 2003, rising from $2.1 billion to $22 billion in 2023. On the other hand, Turkey’s imports from Africa amounted to $15 billion, which reflects the remarkable expansion of the trade partnership between the two sides.
Polat pointed out that the total trade volume between Turkey and Africa, which was only $5.4 billion in 2003, has increased seven-fold to reach $37 billion by 2023. In the first nine months of this year, the volume of trade exchange between the two parties approached $27 billion. Of which $15.8 billion are Turkish exports, and $11.1 billion are African exports to Turkey.
The minister also explained that Turkish investments in Africa witnessed remarkable growth, rising from $67 million in 2003 to $2.3 billion, while the market value of these investments exceeded $10 billion, and this contributed to creating job opportunities for about 100,000 people on the continent.
He added that Turkish projects in Africa vary between basic sectors including food, textile, steel, construction, mining, transportation, energy, and port management, stressing that these investments enhance the continued growth of trade and investment relations between Turkey and Africa, and open new horizons for economic cooperation between the two sides.
For his part, Ahmed Gulic, Vice Chairman of the Turkish Exporters Council, stressed that the renaissance of Africa represents an important strategy for Turkey, stressing the close historical relations that bring together the two sides. He added that Türkiye considers Africa a partner and brother, and aspires for the continent to witness stability and prosperity.
Gulic pointed to the importance of joint work between Turkey and Africa, pointing to the efforts made by the Turkish government during the past years in opening diplomatic missions in most African countries and enhancing the volume of trade exchange between the two sides.
Golić also explained that there are 3 free zone agreements signed with African countries, and the fourth is on its way to being signed, anticipating more of these agreements in the future.
African welcome
Ghana’s Minister of Roads, Francis Asenso Boakye, stressed during his speech at the forum that joint initiatives between Turkey and Africa contribute to enhancing economic cooperation and exchanging ideas. He considered that investment in infrastructure, especially roads, plays a crucial role in driving economic growth on the continent.
The minister stressed that Turkey, with its great industrial strength, represents an important international partner in this path, pointing to the depth of relations between Turkey and Africa, and their common aspirations towards enhancing cooperation in various fields.
Boakye pointed out that Africa’s enormous resources and potential, especially its youth, require rapid strategic investments and partnerships to achieve sustainable development. He stressed the importance of strengthening relations between Türkiye and Africa, calling for more cooperation in areas such as manufacturing, construction and technology transfer.
Turkish ambition
Economic researcher Osman Ipek said that despite its great ambitions to strengthen its economic presence in Africa, Turkey has not yet been able to achieve its goal of reaching a mutual trade volume of 50 billion euros ($54.4 billion) with the continent, a goal that was set since The African Union classified Turkey as a strategic partner in 2012. It is noteworthy that the volume of bilateral trade currently approaches 40 billion dollars.
Speaking to Al Jazeera Net, the researcher pointed out the need for Türkiye to choose its trade partners in Africa with greater caution. He added that instead of focusing on countries with limited economic potential such as Somalia and Sudan, Turkey could have achieved greater returns if it had focused on countries with promising potential such as Ethiopia, Tanzania, and Kenya, which have stronger economies and the ability to cooperate in major projects.
Ipek stressed that Turkey has an ambitious vision to enhance its trade with African countries, and seeks to sign new free trade agreements, and this strengthens its position as a major economic player on the continent, and that Africa provides Turkey with tremendous economic opportunities, given its rapidly growing economies and large natural resources.
