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Minister Donmez: The market value of Turkey’s investments in Africa has reached $6 billion

Minister of Energy and Natural Resources Fatih Donmez drew attention to the importance of cooperation with African countries and said that the market value of Turkey’s investments in Africa has reached $6 billion.

Minister of Energy and Natural Resources Fatih Donmez stated that he believes that Turkey and Angola can realize important cooperation in the energy sector and said, “The market value of Turkey’s investments in Africa has reached $6 billion. The number of projects undertaken by Turkish contractors across the continent has exceeded 1500, and the economic size of the projects has exceeded $70 billion.”

Donmez, at the 2nd Meeting of the Turkey-Angola Joint Economic Commission (KEK), which he attended via video conference, said that Turkey acts on a win-win basis in every country it cooperates with.

Stating that Turkey has started to develop its relations with the continent in a multidimensional way since 2003, when it started to implement its African strategy, Donmez said, “The market value of Turkey’s investments in Africa has reached $6 billion. The number of projects undertaken by Turkish contractors across the continent has exceeded 1500, and the economic size of the projects has exceeded $70 billion.”

In this context, Donmez pointed out that the commercial and economic relations between Turkey and Angola have developed rapidly in the recent period and said, “When we look at our trade figures in 2020, it is seen that the trade volume between our countries is $250 million. Of this amount, $183 million is composed of Turkey’s exports to Angola, and $67 million is composed of Angola’s exports to Turkey. We aim to further increase our bilateral trade in a balanced way with the joint work we will do.”

Stating that they aim to increase the activities that bring together the Turkish and Angolan private sectors and to bring business people together more, Donmez said, “Angola’s natural resources and Turkey’s experience in energy and mines indicate a high potential for cooperation between the two countries. In this context, we think that important cooperation between our countries can be realized in the fields of oil and petroleum products trade, LNG trade, electricity generation, transmission and distribution, maintenance and modernization of energy facilities.”

Stating that the Air Transport Agreement, which will allow Turkish Airlines to organize passenger and cargo flights to Angola, will also be signed this month, Donmez said, “We believe that Turkey-Angola trade and investment relations will gain a significant momentum with the start of direct flights. Similarly, at the KEK meeting, we agreed that cooperation agreements in many fields such as SMEs, defense industry, education, youth and sports, which are on the agenda of the two countries but not yet signed, will be signed and put into effect as soon as possible. In addition, we are planning agreements in the fields of standardization, calibration, conformity assessment, agriculture, fisheries and maritime for the coming period.

Angolan’s Minister of Petroleum and Natural Resources Diamantino Pedro Azevedo stated that the successful completion of the KEK meeting was gratifying and that he believed the parties would contribute to the cooperation in the field of energy in the coming period.

Noting that they will carry out their work in order to implement the decisions taken in the economic and social fields within the scope of the meeting, Azevedo added that the suggestions of the Turkish side will be followed carefully.

Source: AA / Translated by Irem Yildiz

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