Turkey to increase its trade volume with African countries to $50 billion

"The total trade volume between Turkey and African countries has risen by 381 percent in the last 27 years and reached $26 billion. We will further boost our cooperation with the continent in the period ahead. We will work together shoulder to shoulder to increase our trade volume up to $50 billion," Erdoğan said.

Reminding that the total trade volume between Turkey and African countries has risen by 381 percent in the last 27 years and reached $26 billion, Erdoğan went on to say: "Our export volume to this continent alone has reached $16 billion. Turkey’s net investment worth in this region has risen as far as $2 billion. The market value of these investments exceeds $6 billion. Back in 2015, there were 30 business councils between Turkey and African countries. This figure has risen to 45 in 2019. The Turkish Cooperation and Coordination Agency (TIKA), with its 22 program coordination offices, has been leading a new and original development model across the continent. Our flag carrier, the Turkish Airlines, runs flights from Istanbul to 58 locations in 38 African countries. As part of the Turkey Scholarships program, we provide education to 4 500 African students at Bachelor’s, Master’s and PhD levels. Inshallah, we will further boost our cooperation with the continent in the period ahead. We will work together shoulder to shoulder to increase our trade volume up to $50 billion.

Erdogan underlined that Turkey see Algeria as a friendly and brotherly country as well as one of its strategic partners in North Africa, adding that Algeria is one of Turkey’s most important gateways to the Maghreb and Africa.

"We have decided to increase our bilateral trade volume to $5 billion as soon as possible. Also, with the joint declaration we signed, we have established a high-level cooperation council between our two countries," President Erdoğan stated.

Pointing out the need of a free trade agreement between Turkey and Algeria,  Erdoğan said: "I believe it would be felicitous to begin negotiations for a free trade agreement to further deepen our economic relations." (ILKHA)