Business

Turkey-Africa Forum is expected to contribute to the $50 billion trade target

Foreign Economic Relations Board (DEIK) Turkey-Libya Business Council President Murtaza Karanfil stated that important decisions were taken in the meetings held with senior officials from different countries of Africa at the Turkey-Africa 3rd Economy and Business Forum and shared ideas and intentions for cooperation. “Some of them even started to take concrete steps for cooperation. The foreign trade volume between Turkey and Africa exceeded $25 billion last year. The Turkey-Africa 3rd Economy and Business Forum was a strategic step towards the goal of foreign trade of $50 billion.” DEİK Turkey-Libya Business Council Chairman Karanfil made evaluations about the “Turkey-Africa 3rd Economy and Business Forum”.

DEIK Turkey-Libya Business Council Chairman Karanfil made evaluations about the “Turkey-Africa 3rd Economy and Business Forum”.

Stating that Africa is very important for Turkey and that they have always approached this continent with a “win-win” philosophy, Karanfil drew attention to the economic importance of the continent with a population of 1.3 billion.

Karanfil stated that Turkey has an embassy in 43 of the 56 countries on the continent, and that THY flies to 60 destinations in 39 countries, and that Turkey-Africa relations developed very rapidly after 2000.

Expressing that Turkey has adopted the “win-win” principle in African relations and prioritized the “fraternity” law, Karanfil stated that the relations established with the countries in this continent in the last 20 years have been closely followed from all over the world.

Karanfil stated that the Turkey-Africa 3rd Economy and Business Forum, which was held in Istanbul with the participation of President Recep Tayyip Erdoğan after his African visit, has a critical importance in terms of mutual relations.

Murtaza Karanfil said:

“More than 3 thousand Turkish and African businesspeople, 1,600 from 45 African countries, attended the two-day summit, 4,900 mutual business meetings were held. Very important meetings were held at the event and decisions were made for critical cooperation. It was underlined once again that Turkey approaches the region with the law of brotherhood. Important decisions were taken during the meetings with senior officials from different African countries and a common idea and intention for cooperation was formed. Some of them even started to take concrete steps for cooperation. The foreign trade volume between Turkey and Africa exceeded $25 billion last year. Turkey-Africa 3rd Economy and Business Forum was a strategic step for the foreign trade target of $50 billion.”

Murtaza Karanfil stated that they had the chance to reconsider the Turkey-Libya economic relations, which have experienced very good developments in recent years, at the summit.

Karanfil said that private meetings were held with the high-level delegation attending the summit from Libya and that they decided to increase their economic cooperation.

Karanfil, noting that Turkey’s exports to Libya increased by 60% in the 9 months of the year compared to the same period of 2020, reached $1 billion 717 million, “The short sea distance to Turkey and Europe, low fuel, real estate, transportation and rental costs make Libya very important to us. In Libya, all countries of Africa can be reached by road in 2-3 days. In other words, a product that will be shipped from Turkey by sea can be sent to Libya within 3 days at the latest and from there to all parts of Africa in 2-3 days by road. For this reason, Libya is a gateway to Africa for Turkey. This country is in a key position for the targeted $50 billion trade volume in Turkey-Africa relations.”

Karanfil underlined that there are investment opportunities in almost every field in Libya and that this country should never be neglected, adding that the logistics center to be built here will facilitate the work of exporters and that their attempts in this direction are continuing.

Inviting Turkish businessmen to invest in Libya and to trade with all of Africa through this country, Karanfil noted that Turkey can have an important say in the future of Africa.

Source: Sabah / Translated by Irem Yildiz

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