“Turkey's win-win policy in Africa: A policy of mutual empowerment based on equality, transparency and sustainability”
Turkey's Trade and Economic Enhancement Strategy towards Africa lies behind the gradual boom of the Turkey's bilateral relations with the African countries since 2003. In response to the changing conditions and needs of the Continent, the Strategy has been updated during the Turkey-Africa Partnership Summit in Malabo-Equatorial Guinea in 2014 and its vision and objectives have been modified aiming to increase the Turkish FDI to Africa, job opportunities for domestic people and creating an environment conducive to economic development of African countries.
Turkey has also signed Trade and Economic Cooperation Agreements with 38 African countries, in line with our efforts to establish a sound contractual basis for the mutual economic relations.
Turkish contractors are amongst the major undertakers in the continent. Share of African countries in the overall international business volume of Turkish contractors is around 21 percent (share of North Africa is 19%). Turkish contractors so far have undertaken in Africa over 1.150 projects which worth 55 billion USD.
Turkey’s bilateral trade volume with Africa has reached 17,5 billion USD in 2016.
Major outcomes of the Strategy are as follows:
- The number of the countries with which Turkey signed Trade and Economic Cooperation Agreement increased to 39 in 2015 while it was 23 in 2003. This agreement establishes a bilateral regular follow-up mechanism where several subjects stretching from trade, investment and finance to SMEs, health and technology.
- Free Trade Agreements with 4 African countries are in force now when it was literally none in 2003.
- Reciprocal Protection of Investment Agreements with 22 countries have been signed so far, however, Turkey had this agreement with only 6 countries in 2003.
- Prevention of Double Taxation Agreements with 11 African countries is effective today in comparison with that it was only 4 in 2003.
A New Partnership Model
for Sustainable Development and Strengthened
Integration of Africa
TIKA operates through 52 offices in 50 countries, 15 of which are in Africa. Turkey gives 0.54% of its GDP to official development assistance
DEiK/Turkey-Africa Business Councils in 42 Countries
Deadline: 31 January 2018
The citizens of African countries are only eligible to be pre-registered.
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