Trade with the African Union has increased 7.5 times in two decades


Turkish Trade Minister Omer Polat stated that the volume of bilateral trade with the African Union increased 7.5 times over the past 20 years and reached $40.7 billion.

This came in a speech on Thursday during the activities of the Fourth Turkish-African Economics and Business Forum, which was launched in Istanbul.

Polat explained that the volume of Turkish African trade was at the level of 5.4 billion dollars in 2003, and at the end of last year it reached 40.7 billion dollars.


He stated that he held several meetings on the sidelines of the forum with businessmen, and that bilateral meetings will continue to conduct trade negotiations.

He stressed that Turkey attaches great importance to its relations with African countries, pointing to the implementation of the strategy for developing trade and economic relations with the countries of the continent since 2003.

He pointed out that Turkish investments in Africa amounted to $10 billion and that Turkish investors provide job opportunities for hundreds of thousands of people there in addition to contributing to the development of the countries of the continent.