Economy

Turkey, Angola to achieve trade volume target in 'very short time': Official

Turkish iron, steel giant to complete 'flag carrier' project of Turkey-Angola economic ties, says Turkish trade minister

Deniz Cicek Palabiyik, Sevgi Ceren Gokkoyun, Erhan Cihan Unal, and Mehmet Sah Yilmaz   | 28.07.2021
Turkey, Angola to achieve trade volume target in 'very short time': Official Turkish Trade Minister Mehmet Mus ( FILE PHOTO - Anadolu Agency )

ANKARA

Turkey and Angola are on the verge of achieving their $500 million trade volume target, Turkey's trade minister said on Wednesday.

"Considering the potential of the two countries, this target will be achieved in a very short time," said Mehmet Mus, speaking at the Turkey-Angola Business Forum, an event in Turkey's capital Ankara.

Underlining that the Turkish government greatly values the development of economic relations with Angola, one of the largest economies in Africa, Mus told the forum that a large delegation from Turkey would visit the Southern African nation, which has one of the largest economies on the continent, in October.

"I'm confident that in this visit, we'll advance our bilateral relations and maintain the momentum we've achieved," he said.

Noting that such industries as agricultural processing, mining, and textiles in Angola held promise, Mus said sub-sectors like the construction and modernization of power plants, electricity transmission infrastructure and electricity distribution services stood out with enormous potential.

Tosyali Holding investment to be flag carrier project

With Turkish investments on the agenda in Angola, especially in mining, the flour industry, pharmaceuticals, and fertilizers, Mus announced that Turkish iron and steel giant Tosyali Holding accelerated work on an iron ore mine project in the country.

These efforts will gain even more momentum in October, said Mus, noting that when the project is completed, it would become a "flag-carrier" project of economic relations between the two countries and make an important contribution to Angola's industrialization and development.

"In the coming period, we agreed with my Angolan counterpart to strengthen our cooperation through big and important projects like this one," he added.

Pointing to the importance of the building contracting sector for the development of bilateral ties, Mus said Turkish firms had undertaken a total of five projects in Angola so far worth nearly $810 million.

"I believe Turkish contractors can play a role in many infrastructure projects such as railways, airports, ports, bridges or water distribution-transmission lines in Angola in the coming period," he stressed.

He also said that the launch of direct passenger and cargo flights between Istanbul and Luanda, Angola's capital, will accelerate bilateral relations, adding that an ongoing three-day visit to Turkey by Angola's President Joao Manuel Gonalves Lourenco has been "instrumental in taking the long-awaited concrete step in this field. I believe the Istanbul-Luanda-Istanbul flights will increase contacts between our business people and our countries."

Lourenco also spoke at the forum, calling on Turkish businesses to invest in his country. "I want them to see the opportunities in Angola. I invite not only the private sector but also the public sector."

On Tuesday, Lourenco's Turkish counterpart, President Recep Tayyip Erdogan, welcomed him with an official ceremony at the Presidential Complex in Ankara.

One-on-one and delegation meetings were then followed by a signing ceremony of bilateral agreements.

*Writing and contributions by Aysu Bicer

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