Economy

Turkey, Japan eye further cooperation in Africa

Africa has potential to draw more investment, says Turkish business council head

Ergin Garip and Yunus Turk   | 19.06.2019
Turkey, Japan eye further cooperation in Africa

ISTANBUL 

Turkish and Japanese business circles on Wednesday gathered in Istanbul to discuss business opportunities and further cooperation in Africa.

"We are highly motivated to promote bilateral economic and investment relations between the two countries and to continue building strong partnerships, especially in Africa region," Serif Tosyali, chairman of the Turkey-Japan Business Council in Foreign Economic Relations Board (DEIK), told the panel.

Pointing the considerable amount of investment of the two countries in Africa, Tosyali said as of 2018, the total investment of Turkey and Japan were worth at least $6.5 billion and $10 billion, respectively.

Tosyali underlined that Turkish businesspeople are interested in the promotion of various sectors and attract bilateral investment, especially in the sectors like IT, energy, infrastructure construction, and automotive industry, thanks to "genuine" partnerships.

"We strongly believe that Africa has a potential to offer us for going beyond the numbers," he said.

Tosyali added that the 25th joint meeting of Turkey-Japan Business Council will be held in Tokyo on Nov. 1.

Masayuki Tanimoto, regional head of Europe, Middle East and Africa for Japan Bank for International Cooperation (JBIC), said Turkish construction firms should head to Africa in order to promote infrastructure projects in the continent.

Tokyo International Conference on African Development (TICAD) will be held in Japan in August where potential business opportunities in Africa will be discussed with the attendance of private sector representatives, Tanimoto said.

He also noted that the JBIC will open its representative office this year in Istanbul.

Writing by Tuba Sahin

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