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Articles
Steps taken after the Turkish government declared 2005 the "Year of Africa" for foreign trade have so far proven fruitful, and the "Africa strategy" devised by the undersecretary for foreign trade has triggered an increasing interest in the continent.
As a consequence Turkish investments in Africa started climbing in a steadily increasing trend and are estimated to reach $1 billion in total by the end of this year.
The Turkish Confederation of Businessmen and Industrialists (TUSKON) was the leading organization, taking bold steps to actualize the Africa Strategy and making material connections by using the plans set forth in it. TUSKON has organized two trade summits so far, bringing together hundreds of businessmen from Turkey and Africa, along with other prominent figures, to seek and discuss possible trade relations. These summits have played an unquestionably significant role in the current improvement of relations.
Tuncer Kayalar, the undersecretary of foreign trade, said the volume of Turkish contracting business in Africa will hit $5 billion by the end of this year. This figure serves as a clear indicator of the improvement of trade as it was just $600 million in 2003. During a trip with TUSKON board members in Ethiopia, Kayalar expressed his thoughts on trade with Africa. Four years ago the trade volume was $5.5 billion, but now it has reached $14 billion, Kayalar noted, adding that TUSKON events certainly proved effective in reaching such promising figures. "Both summits organized by TUSKON were attended by several thousands of participants from over 30 countries. They helped with the creation of an "Africa consciousness" among Turkish businessmen. Now we have merchants almost everywhere, from Senegal to Tanzania and Malawi," he said.
The African nations have already been snapped up by investors from European countries, Kayalar said, noting that these countries had taken control of most of the valuable resources in Africa. European companies are exploiting the raw materials of this continent to produce value-added products and selling these products at relatively higher prices, Kayalar pointed out. "Africans are saying that their goods are equal in quality to those of the Europeans, but much cheaper," he said.
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