Türkiye- Africa trade hits $37b with $100b in construction projects

Trade between Türkiye and African nations reached $37 billion in 2024, with ambitions to achieve $40 billion in 2025, Trade Minister Omer Bolat announced at the 5th Türkiye-Africa Business and Economic Forum in Istanbul. The minister highlighted that economic relations have grown more than sevenfold since 2003, reflecting a deepening strategic partnership.

Substantial Infrastructure Investment Across Africa

A significant contribution to this partnership comes from Turkish construction firms, which have completed 2,043 projects worth approximately $100 billion throughout Africa. These infrastructure developments have played a crucial role in the continent's economic growth and have solidified a lasting commercial bridge between the parties, built on a "fair, equal and win-win basis," according to Bolat.

Connectivity and Humanitarian Cooperation

Enhanced air connectivity has been a key enabler of this growing relationship. Turkish Airlines now serves 62 destinations in over 40 African countries, facilitating business and diplomatic links. Furthermore, development aid and humanitarian projects conducted by the Turkish Cooperation and Coordination Agency (TIKA) and other Turkish NGOs continue to strengthen social and cultural ties across the continent.

Major Business Forum Fosters New Deals

The ongoing forum at the Istanbul Congress Center has attracted around 3,000 African businesspeople who are meeting with thousands of Turkish counterparts. The event features panels on critical sectors like textiles, infrastructure financing, pharmaceuticals, and logistics, with several Turkish ministers participating in high-level bilateral meetings to further expand economic cooperation.