The forum showcased the growing economic ties between Türkiye and Africa, highlighting the increasing importance of the African market for Turkish businesses.
Turkey's strategic investments in Africa are expected to continue, with a focus on sectors that can drive sustainable development and economic growth on the continent.
Turkey is likely to pursue more free trade agreements with African countries to enhance its economic footprint.
The ongoing investment initiatives may lead to increased job creation and infrastructure development across Africa, potentially boosting economic stability in the region.
The 11th Turkey-Africa Cooperation Forum recently concluded in Istanbul, focusing on enhancing cooperation and trade partnerships between Türkiye and Africa. The forum, attended by 1,500 participants from 54 African nations, emphasized that investing in Africa is a long-term investment for the future. Turkish Trade Minister Omer Bolat highlighted the strategic importance of Africa, noting that Turkey's exports to the continent have surged tenfold since 2003, reaching $22 billion in 2023, while total trade volume has increased to $37 billion. Turkish investments in Africa have also grown significantly, from $67 million in 2003 to $2.3 billion, creating approximately 100,000 jobs on the continent.
Ghana's Minister of Roads, Francis Assenso Boakye, addressed the forum, underscoring the need for infrastructure investments to drive economic growth in Africa. He praised Turkey as a vital international partner in this endeavor, emphasizing the potential for cooperation in manufacturing, construction, and technology transfer. Despite these advancements, economic researcher Osman Ipek noted that Türkiye has yet to achieve its target of a mutual trade volume of 50 billion euros with Africa, suggesting a more strategic selection of trade partners could yield better results.
