Public Management

Turkey-Africa trade soars eightfold to $40.7bn in 2003-22

Turkey-Africa trade soars eightfold to $40.7bn in 2003-22
Wednesday, 20 September 2023 21:44

The strengthening of diplomatic ties between Turkey and Africa has significantly boosted bilateral trade. Yasin Ekrem Serim, the Turkish Deputy Foreign Minister, announced on September 19 that trade between his country and Africa has increased eightfold over the past two decades, reaching $40.7 billion in 2022.

"Our trade with Africa has multiplied eightfold. It was $5.4 billion in 2003 and now reached $40.7 billion in 2022," he revealed during a Turkey-Africa business forum held in Istanbul. The event gathered nearly 1500 business leaders, we learned.

The Turkish official also emphasized that this surge in trade is a result of strengthened diplomatic relations with the continent. "We shifted to a partnership policy with Africa in 2013. The number of our embassies on the continent, which was limited to 12 in 2012, has now risen to 44. In the 1990s, among sub-Saharan African countries, only Sudan had an embassy in our country. Today, that number has increased to 38," he said, pointing out that "Africa emerges as the rising star of the 21st century with its cultural heritage and enormous potential."

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Coris buys Portugal state’s 59.81% stake in Banco Comercial do Atlântico Deal approved by Portugal and Cape Verde regulators Transaction...
Togolese banks provided 16.2% of WAEMU cross-border credit by September 2025 Regional cross-border financing rose to CFA405.6 billion Credit...
Sahel Capital secures $29 million first close for agribusiness fund SCAF II targets West African agribusiness value chains Fund makes first...
Microfinance deposits in Togo increased by CFA11.9 billion, a 2.7% rise in the second quarter of 2025, according to BCEAO data. Outstanding...
Most Read
01

Africa’s energy & mining exports benefit from US tariff exemptions, cushioning trade as most other...

Africa’s Energy Boom in 2026 Puts AfCFTA at the Heart of Its Trade Response to US Tariffs
02

Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational i...

Africa’s Artificial Intelligence Moment : Infrastructure, Governance and the Path to Scale
03

Development Partners International sold its 20.17% stake in Atlantic Business International for mo...

DPI Exits Atlantic Business International in $200 Million-Plus Deal
04

This week in Africa, Africa CDC continues its clinical trial on mpox, while a new study highlights l...

Weekly Health Update| Rising diabetes rates raise health risks in Morocco and the MENA region
05

Ivory Coast expects a new government after the prime minister and cabinet resigned following Decem...

Ivory Coast Awaits New Cabinet After Post-Election Resignations
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.