DEİK President: Our eyes and ears on Africa


As the Foreign Economic Relations Board (DEİK), we are organizing the business world leg of the official visits of President Recep Tayyip Erdoğan to the African countries of Cote d'Ivoire, Ghana and Nigeria between Feb. 28 and March 3. Following the official visits to the South American countries of Chili, Peru and Ecuador, we are organizing the biggest committee visit of the year to Africa. In short, Africa is Turkey's new target of foreign business attack.We will hold business forums in these three countries and create the necessary environment for senior relations with participants and enable bilateral business negotiations. During senior negotiations we will inform the head of states, prime ministers and ministers of the related countries as well as all representatives of the business world about Turkey, DEİK and our operations. We will also offer insights about our business volume and potential. Moreover, we will introduce business opportunities in Africa and show the potential of the African market to Turkish businessmen participating in the delegation. As you know, there are great opportunities awaiting Turkish investors and exporters in Sub-Saharan Africa, which draws the attention of advanced economies across the world. Especially in the three countries of Cote d'Ivoire, Ghana and Nigeria, there are certain investments, and Turkey has a trade volume at a certain level that has developed considerably in the last 13 years thanks to the Turkish government's "Opening-Up to Africa" strategy. Nevertheless, it is clear that there is a huge economic market that Turkish exporters and businessmen have not yet discovered and Turkish investors have not yet recognized the economic conditions. Today, Nigeria, which has a population of nearly 200 million, is in great need of Turkish export commodities. Turkish investors employ more than 2,600 Nigerians in Nigeria. Turkish textile products are also in high demanded in Nigeria. Turkey exports 70 tons of products to Nigeria weekly, but this trade is conducted via shuttle trade and Turkish brands are not able to open shops in the country. Regarding retail, textiles are one of the most attractive trade areas for Turkish investors. Nigeria is expected to be one of the most powerful countries in Africa in the long run. According to U.N. population projections, Nigeria is predicted to be one of the five most crowded countries in the world.Nigeria is the leader of Africa in oil and natural gas production. Over 80 percent of the country's income depends on oil sales, but the downward trend in oil prices around the world results in recession for the Nigerian economy. Nigeria, the country that exports the most oil to the U.S. from Africa, certainly is in need of foreign investors and economic growth in different sectors. Hence, Nigeria is a land of opportunities for Turkish investors to exist in the most appealing areas. The second stop of our official visit is Cote d'Ivoire. Cote d'Ivoire aims for nearly 10 percent economic growth in 2016. Currently, there are a total of 25 active Turkish companies in the country and a significant part of investments focus on the construction industry. Other areas of investment that Turkish businessmen focus on are construction materials, prefabricated buildings and furniture. Turkey accords a right of free export to African countries that are willing to invest in the food industry.Instead of official trade, Cote d'Ivoire and Turkey are involved in shuttle trade in textiles, but official trade is possible. Power plant bidding contracts are a potential investment area for Turkish companies. Rice is one of the most important items in the country and Turkey has a great export potential with rice. Agricultural technician exchange, training and the exportation of agricultural materials can also be considered a potential market for Turkey in Cote d'Ivoire. Moreover, the participation of Turkish construction companies in social house and dwelling construction contracts can also be considered a great opportunity for Turkish businessmen. There is also significant potential for Turkish companies in Cote d'Ivoire's mining sector. Cote d'Ivoire has a 400,000-unit housing deficit, including 200,000 in Abidjan. It is known that land owners in the private sector in the country approach Turkish construction companies positively and they are ready to collaborate. Hence, I believe that Cote d'Ivoire bears great potential for Turkish investors. There are various Turkish companies including DEİK's Business Council president and a DEİK board member have just begun investments in Cote d'Ivoire, which delights us.Ghana is Turkey's fourth biggest trade partner in Sub-Saharan Africa. Turkey's export volume to Ghana in 2015 was nearly $400 million. Ghana's industry and service sector grew faster compared to agriculture. The energy sector ranks first in Ghana's Development Agency. Moreover, the African Development Bank (AFDB) offers various opportunities to investors to invest in these countries.We have an obligation to seize these opportunities in the best way possible. China, the U.S. and European countries have already made headway. We need to move faster from now on. Within the scope of the Turkish government's "Opening-Up to Africa" strategy, we attach great importance to the official visits to these three countries to commercially move forward.