Turkey, African Union sign agreement for Istanbul forum

By Addis Getachew

ADDIS ABABA, Ethiopia

Turkey and the African Union Commission agreed on Monday over the framework of a Turkey-Africa business forum in Istanbul next month.

Fatih Ulusoy, the Turkish permanent representative to the African Union (AU), and Victor Harison, the AU commissioner for economic affairs, signed the Cooperative Framework Arrangement at the AU headquarters in Ethiopian capital Addis Ababa.

The Second Turkey-Africa Economic and Business Forum will be held on Oct. 10-11 to seek the cooperation opportunities between Turkey and Africa and encourage Turkish and African entrepreneurs and investors.

After the signing ceremony Ulusoy said heads of states, officials and businesspeople from 50 African countries are expected to attend the forum what he described as “a very important event”.

“We hope this second forum will produce concrete business deals,” he said.

“[…] Up to $40m business deals were signed" in the first forum held last year in Istanbul, he added.

Harison, for his part, said: “Africa’s challenges are enormous. We need partners to help implement [the continent’s] flagship projects.”

“Turkey is the preferred partner of Africa,” he said, describing the cooperation and partnership that exists between Turkey and Africa as “symmetrical and mutually beneficial”.

The forum will provide a platform for the business circles from African countries to meet with their Turkish counterparts to develop new partnerships which aims to build together, produce together, sell what is produced together and share the profit.

Turkey has an observer status with the AU. It provides an annual contribution of $1million to the bloc.