TPSF in Istanbul for Turkey-Africa business forum

10Oct 2018
By Financial Times Reporter
Financial Times
TPSF in Istanbul for Turkey-Africa business forum

THE Tanzania Private Sector Foundation (TPSF) is sending a delegation of local businessmen to attend the second Turkey-Africa Economic and Business Forum to be held in Istanbul, Turkey today and tomorrow.

TPSF membership service director Louis Accaro.

Jointly organized by the Turkish Ministry of Economy, African Union Commission (AUC), and DEIK, the forum brings together businessmen from Turkey and Africa to deliberate on how they can work together to promote trade and investments between the two sides.

Rwandan president Paul Kagame, who currently chairs the African Union, will lead an AU delegation to the forum, a statement from the organisers said.

“Turkey’s decade-long economic boom has been accompanied by a renewed interest in Africa, and the trade volume with the continent has been quadrupled to $18.9 billion in 15 years in respect to Turkey’s ‘win-win’ policy focusing on political equality and mutual economic development,” reads part of the statement. 

In line with Turkey’s African Opening policy, Turkey-Africa business councils aims to improve Turkey’s commercial and investment relations with African countries and the continent as a whole in collaboration with counterpart organizations currently active in 43 countries. 

The organisers believe that the forum this week will provide a unique platform for business circles in Turkey and several African countries to create long-lasting cooperation.

The forum will be divided into thematic sessions and government-to-business (G2B) as well as business-to-business (B2B) meetings, providing the opportunity to focus on “doing business in Africa” from a sectoral perspective, as well as exchanging national experiences and financing tools. 

Business between Tanzania and Turkey has been increasing in recent years, reports say.

Speaking at the Turkish embassy in Dar es Salaam last week ahead of the trip, several local businessmen earmarked to attend the forum described it as a good opportunity to further boost trade relations between the two countries.

Businessmen from the two countries have been meeting regularly in exchange of business and investment opportunities. Last February, Turkish business and agricultural machine producers showcased their products at a business forum in Dar es Salaam.

Speaking then, Turkish Exporters Association secretary general Ozkan Aydin said the trip was also meant to look for partners and investment opportunities in Tanzania.

“The machines and technology being shown can be adopted by Tanzanian farmers with a view to improving agricultural production,” Aydin said.

TPSF membership service director Louis Accaro said the trip to Turkey was also expected to add value to Tanzania’s own, still-growing agro-business sector.