(Ecofin Agency) - 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."
The African Development Bank has approved a $304 million loan to Botswana to support the southe...
BRVM and Africa50 signed a deal to create new infrastructure financing tools The plan inclu...
The Economic Community of West African States (ECOWAS) parliamentarians met in Lomé from May 6 to 9,...
Nigeria’s audit industry grew 65% in 2024, reaching 28.2 billion naira ($14.4 million). KPMG, EY,...
Africa’s digital economy is growing rapidly, and the demand for data storage, processing power, and ...
• Chad is home to one of the world’s largest shea tree reserves, with up to 82 million trees.• The country could produce up to 800,000 tons of shea nuts...
• The ICJ granted Equatorial Guinea sovereignty over three disputed islands in the Gulf of Guinea.• The ruling opens access to potentially oil-rich waters...
• Jean Bamanisa says Kinshasa needs 3,500 km of roads rebuilt at a cost of over $10 billion.• He warns that without urgent investment, the city...
• Uganda’s telecom industry has launched a joint anti-vandalism initiative led by UCC.• Over 820 cable vandalism incidents and widespread service...
Marojejy National Park, located in northeastern Madagascar, is one of the island’s most pristine and spectacular natural treasures. Nestled in the Sava...
Located about 3 km (1.8 miles) off the coast of Dakar, Senegal’s capital, Gorée Island is one of the most emblematic historical sites in West Africa....