Erdogan: Turkish exporters aim to double annual trade with Africa to $50B

Turkish exporters plan to increase annual bilateral trade with Africa from $25 billion to $50 billion, Turkey’s President Recep Tayyip Erdogan has said in Istanbul. 

Turkey aims to strengthen ties and boost bilateral trade with African countries, said Erdogan on Friday, on the last day of a two-day Turkey-Africa Economic and Business Forum. 

"Turkish investors have great trade interests in Africa, and vice-versa," said Erdogan. 

"Turkish investors have materialised more than 1,500 projects worth more than $70 billion," he added. 

He said Turkey's investments across the African continent are currently more than $6 billion and the country is also making efforts to promote Africa’s border security and anti-terrorism measures. 

Erdogan also said that Turkey offered medical aid to 44 African countries to assist in their efforts to battle the Covid-19 pandemic. 

Turkey's homegrown coronavirus vaccine, TurkoVac, will also be shared with other countries, he said.

The summit comes after Erdogan's recent tour to Africa. 

READ MORE: Erdogan: Turkey will donate vaccines to Togo, other African countries

Doubling bilateral trade

Turkey's Foreign Economic Relations Board (DEİK), Nail Olpak, in his address underlined the importance of free trade deals and reciprocal investment protection agreements, along with enhanced cooperation in agriculture, industry, construction, textile, and health sectors. 

Speaking about Erdogan’s visit to three African countries this week, Olpak said Turkey has taken important steps to boost cooperation with African nations, striking dozens of deals with governments and public and private sector firms in fields such as mining and energy.