The World Cooperation Industries (WCI) Forum kicked off in Istanbul on Wednesday, bringing together over 1,500 African businesspeople and Turkish SMEs.
Turkish Trade Minister Omer Bolat highlighted the significant growth in trade between Turkey and Africa since 2003.
The trade volume has surged from $5.4 billion to a remarkable $37 billion, with $27 billion already achieved in the first nine months of this year.
To support these economic ties, Turkey has expanded its diplomatic presence in Africa, increasing the number of embassies from 12 to 44.
This number is expected to reach 50 in the near future. Additionally, Turkish trade consultancies have grown from four to 31.
Minister Bolat emphasized Africa’s growing economic importance, noting its estimated GDP of $3 trillion and overall growth of 3.7% in 2023.
He emphasized that Turkey’s strategies with Africa offer mutually beneficial opportunities.
Turkey’s investments in Africa have soared from $67 million in 2003 to $2.3 billion in 2023, generating $10 billion in market value and creating 100,000 jobs.
Minister Bolat announced plans for further collaboration, including new agreements, increased flights via Turkish Airlines, and joint economic commissions.
Free trade agreements with Morocco, Tunisia, Egypt, Mauritius, and Sudan are also contributing to the trade growth.
The upcoming Türkiye-Africa Business and Economic Forum, to be held in October 2025, will serve as a platform for further strengthening these economic ties.