Istanbul Chamber of Commerce to hold first fair for Turkish products in Ghana in August

The Istanbul Chamber of Commerce will hold the first Turkish products fair in Ghana in August 2016 and bring Turkish entrepreneurs together with representatives from the African market in Accra



President Recep Tayyip Erdoğan's upcoming visit to West Africa, including Cote d'Ivoire, Ghana and Nigeria, is of great importance for Turkey's entrance into new markets.Early in February, the Istanbul Chamber of Commerce visited Chile, Ecuador and Peru on the Pacific coast of Latin America. One month later, we are gathering with the business world of Cote d'Ivoire, Ghana and Nigeria, countries which are adjacent to the Atlantic Ocean.Our time has seen many maps and markets change around the world. The ongoing recession in the global economy since 2008 has compelled many countries, particularly developed ones, to seek new markets, as existing markets are losing their attractiveness due to both geopolitical risks as well as declines in demand. Moreover, while vulnerabilities in the global economy are escalating, developing countries have consistently increased their trade over the past 10 or 15 years, becoming one of the most important gears of global trade in this period. Developing countries produced 35 percent of the total gross national product (GNP) of the world economy in 2015. Therefore the Africa trip by Erdoğan is important for Turkey and seeking new markets. The African market, which is rich in raw material resources, promises a potential consumer group as well as a cheap workforce alongside their attempts to open trade with other countries. As the Istanbul Chamber of Commerce, our goal is to revive economic and commercial relations between Africa and Turkey. There are great cooperation opportunities, particularly in the banking, finance, energy, agriculture, transportation and construction sectors. Africa and Turkey have deep-rooted historical ties. The Republic of Turkey is continuing to open new embassies in Africa as it has done in recent years, as required by this strengthening of relations. Cote d'Ivoire, Ghana and Nigeria, which we will visit in Sub-Saharan Africa, have many common features and all promise a bright future.- Cote d'Ivoire's economy has grown by an average of nine percent on an annual basis since 2012. In addition to its significance for agriculture and tourism, Cote d'Ivoire is also one of the financial centers of West Africa.- Ghana's economy is expected to grow by 4.6 percent and 6.3 percent in 2016 and 2017, respectively. The Istanbul Chamber of Commerce will hold the first Turkish products fair in the country in August 2016 and bring together Turkish entrepreneurs with the African market in Accra.The Nigerian economy is striving to diversify its production as oil prices are falling. Businessmen from Nigeria and Turkey will find many opportunities as the economy in Nigeria, the largest oil producer in Africa, is being reshaped.We have much work to do together with African entrepreneurs.