Turkish Minister of Trade: 10 billion dollars in Turkish investments in Africa

Abu Dhabi, April 7 / WAM / His Excellency Professor Omar Balla, Turkish Minister of Trade, stressed that his country attaches great importance to enhancing international commercial partnerships in light of the current global economic challenges, indicating that Turkey seeks to consolidate new cooperation frameworks based on transparency and reduce commercial barriers, through multilateral dialogue initiatives, such as the “Emerging Markets Forum” to be held in cooperation with the Organization for Economic Cooperation And development in Istanbul this April.
His Excellency said in a statement to the Emirates News Agency “WAM” on the sidelines of the “AIM Investment Summit 2025” held in Abu Dhabi – that the global economy faces unprecedented challenges, which is the escalation of protectionist policies and geopolitical tensions, which hinders economic growth and hinders the achievement of sustainable development goals, especially in developing countries.
He pointed out that Turkey sees the necessity of building a favorable environment to resume growth in global trade and investment by facing unfair practices, stressing the importance of multilateral cooperation within frameworks such as the World Trade Organization “UNCTAD” and the Organization for Economic Cooperation and Development and the Group of Twenty.
His Excellency revealed that Turkey’s launch of a new international dialogue initiative in cooperation with the Organization for Economic Cooperation and Development under the name “Emerging Markets Forum” on April 10 in Istanbul, with the aim of discussing ways to enhance the efficiency of global value chains and economic connection between countries.
The Turkish Minister of Trade said that his country started since 2003 to implement the “strategy to develop trade and economic relations with African countries”, which resulted in the signing of trade and economic cooperation agreements with 50 African countries as well as investment protection agreements and the prevention of double taxation.
His Excellency added that the number of Turkish commercial offices in the African continent increased from 4 to 31 offices, while the volume of trade exchange between Turkey and Africa jumped from 5.4 billion dollars in 2003 to $ 37 billion in 2024 and the value of Turkish investments in Africa amounted to 10 billion dollars, while Turkish companies implemented more than 2000 projects with a total value of 96.6 billion dollars.
He announced the organization of the “Turkish -African Business and Economy Forum” in its fifth edition in Istanbul next October, which will discuss cooperation opportunities in the fields of agriculture, tourism, health, infrastructure and manufacturing industries.
He stressed that Türkiye has strengthened its trade relations with the Gulf countries over the past two decades, as the volume of trade exchange increased from $ 8.9 billion in 2003 to 61.7 billion dollars in 2024.
He pointed out that Türkiye has signed free trade agreements with both the Emirates and Qatar, and negotiations are currently underway on a free trade agreement with the Cooperation Council for the Arab States of the Gulf, which would enhance economic cooperation between the two sides.
He revealed that the Gulf investments in Turkey amounted to about 14 billion dollars, while Turkish companies in the region implemented more than 2,400 projects worth $ 126 billion, pointing to the importance of the “Road of Development” project that links the Gulf to Europe through Iraq and Turkey, which is a strategic opportunity for logistical integration in the region.
He said that the Turkish Ministry of Trade is pursuing a comprehensive policy to support exports that include all its stages from preparing for marketing and promotion, through programs such as “Tokwalti” and international competitiveness development projects, e -commerce support, and global supply chains.
The Turkish Minister of Trade stated that Türkiye seeks to enhance its exports of valuable products and high technology, pointing to his ministry’s efforts to improve the investment environment in free zones and expand free and preferential trade agreements.
He stressed that the “vision of Turkey’s century” places export at the center of growth strategies, pointing to the launch of the “strategy of remote countries” to open new markets, in addition to the “strategy of developing exports to the Islamic Cooperation Organization countries” that aims to raise the share of these countries from Türkiye’s exports to 30%.
He pointed to the role of commercial diplomacy in opening new markets, as Türkiye owns 161 commercial offices in 109 countries, in which more than 230 supplies and commercial advisers work to support Turkish exporters and facilitate their entry into global markets.

• For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter