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
Schiba plans to launch a life insurance subsidiary to expand its financial services arm. Côte d’Ivoire’s insurance market grew 10% in 2025, driven by...
EBID project commitments reached $813.77 million, up 83%, with approvals rising 50%. Focused on energy and transport, sectors critical to...
Raised $12.65 million, backed by Firstrand, Standard Bank, Allan Gray and the SA SME Fund Focused on early-stage startups, with first...
Kenya tax revenue rises to 2.038 trillion shillings by March Growth driven by reforms, digitalisation, and stronger compliance Collections...
Most Read
01

Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...

Flutterwave Secures Banking License in Nigeria, Joining Push by Fintechs Like Revolut, Wise
02

BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...

BCEAO Imposes June 30 Deadline to Complete Instant Payments Integration
03

EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...

EBID Charts Green Shift to Finance West Africa’s Growth
04

This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...

Weekly Health Update | Africa Faces Health Supply Risks; DRC Ends Mpox Emergency
05

West African Development Bank allocates $131.8 million to support cotton sectors in Burkina F...

BOAD Commits $131.8 Million to Cotton Sector in Burkina Faso and Mali
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.