Ankara Targets $40 Billion in Trade by 2025
- Turkey views Africa as a crucial strategic trading partner,and the economic relationship between the two has experienced remarkable growth in recent decades.
- Turkey is ambitiously targeting trade worth $40 billion with Africa in 2025, building on a substantial $37 billion in trade recorded for 2024.
- The forum served as a pivotal platform,bringing together over 4,000 business leaders,policymakers,and investors from both Turkey and the African continent.
“`html
Turkey-Africa Trade: A Rapidly Expanding Partnership
Table of Contents
overview
Turkey views Africa as a crucial strategic trading partner,and the economic relationship between the two has experienced remarkable growth in recent decades. Between 2003 and 2024,trade volume has surged by approximately 585%,demonstrating a deepening economic connection.
2025 Trade Target & Forum Details
Turkey is ambitiously targeting trade worth $40 billion with Africa in 2025, building on a substantial $37 billion in trade recorded for 2024. This goal was announced by Ömer Bolat, Turkish Minister of Commerce, during the 5th Turkey-Africa Economic and business Forum held in Istanbul from October 16th to 17th, 2025.
The forum served as a pivotal platform,bringing together over 4,000 business leaders,policymakers,and investors from both Turkey and the African continent. Discussions centered around key sectors including agriculture, logistics, energy, textiles, pharmaceuticals, and the rapidly evolving field of digital commerce. The overarching aim is to foster stronger business cooperation and drive mutual economic growth.
Historical Trade Growth
The rapid expansion of trade reflects a deliberate strengthening of economic ties.Trade volume has increased dramatically from $5.4 billion in 2003 to its current level. This growth is not solely limited to trade; Turkish construction companies have also made significant contributions to African development.
Turkish Construction Projects in Africa
Turkish construction firms have successfully completed over 2,000 projects across Africa, with a combined value approaching $100 billion. These projects are primarily concentrated in vital sectors such as infrastructure, energy, and industrial development, contributing significantly to the continent’s economic progress.
Sector Breakdown of Turkish Investment
| Sector | Estimated Value (USD Billions) | Percentage of Total |
|---|---|---|
| Infrastructure | 45 | 45% |
| Energy | 30 | 30% |
| Industrial | 15 | 15% |
| Other | 10 | 10% |
| Total | 100 | 10
|