Boosting Trade Volume Between Türkiye and Africa: A Gateway to New Opportunities

Boosting Trade Volume Between Türkiye and Africa: A Gateway to New Opportunities

The economic landscape of the African continent has witnessed significant transformations in recent years, with numerous countries experiencing rapid growth and development. By fostering stronger economic ties, Türkiye and Africa can unleash a multitude of opportunities and mutual benefits for both regions.

-Current Trade Volume-

Over the past decade, trade between Türkiye and Africa has been steadily increasing. In 2022, despite the global challenges posed by the COVID-19 pandemic, the exports from Türkiye to Africa amounted to around $23.6 billion and the imports from African countries to Türkiye passed $9.5 billion. Türkiye’s exports to Africa primarily consist of machinery, construction materials, electronics, textiles, food and automotive products, while Africa exports oil, gas, minerals, and agricultural commodities to Türkiye. Although this represents a positive trend, there is still considerable room for growth and diversification.

-Potential Areas for Growth-

Infrastructure Development: Türkiye possesses considerable expertise in infrastructure development, construction, and project management. African nations, many of which are experiencing rapid urbanization and industrialization, can benefit from Turkish investment and knowledge in building roads, bridges, ports, and energy facilities. As of 2022, 1330 projects amounting to $56 billion are undertaken by Turkish contractors in North Africa; while the total amount of projects is $26.7 billion (with 447 projects) in the rest of the continent.

Agriculture and Food Security: Africa possesses vast arable land and a young workforce, making it an ideal partner for agricultural cooperation. Türkiye, with its advanced agricultural techniques and technologies, can provide assistance in improving agricultural productivity, post-harvest management, and food processing. Collaborative initiatives can help enhance food security and contribute to poverty reduction.

Energy and Natural Resources: Africa is rich in natural resources, including oil, gas, minerals, and renewable energy potential. Turkish companies can explore partnerships and investments in the energy sector, promoting sustainable development and providing access to affordable and clean energy sources.

Manufacturing and Industrialization: Türkiye's robust manufacturing sector can serve as a valuable model for African countries aspiring to achieve industrialization. By sharing knowledge, technology, and fostering joint ventures, Türkiye can contribute to the development of African manufacturing capabilities, leading to job creation and economic growth.

High Education: The African continent is also one of the important destinations for Türkiye in the export of education services. There are more than 50.000 students from 54 African countries for higher education in Türkiye.

Health Tourism: Türkiye is now a well-known country in the region for its high-level health tourism services. Emerging mid and high classes of African people benefit from these services too. The African continent has become an important market for the Turkish healthcare sector. Türkiye in recent years attracted health tourists mostly from Libya, Somalia, Egypt, Morocco, Nigeria, and Algeria.

Turkish TV series in Africa: Many African countries have become Turkish TV series fans and this trend still continues.

As Africa continues to experience economic growth and transformation, Türkiye recognizes the tremendous potential for trade and cooperation with the continent. By focusing on areas such as infrastructure development, agriculture, energy, manufacturing, education, health tourism, and cultural exchanges, both regions can unlock new opportunities for economic growth, knowledge transfer, and cultural exchange. By seizing the potential and working together, Türkiye and Africa can forge a path toward a prosperous future built on mutual understanding, respect, and shared success. UPlanet is here with you to expand your business in Africa!

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