ISTANBUL

Türkiye's bilateral trade with South Africa has exceeded $2 billion in over two decades, but there is potential to increase import and export volumes between the two countries, Turkish Trade Minister Omer Bolat said Friday.

Türkiye has exported $650 million to South Africa and imported $1.35 billion in 22 years, with both countries seeing strong potential for expanding trade and investment in agricultural and electrical machinery, defense, automotive, mining, energy, transport, and port operations, Bolat said at the fifth Türkiye-Africa Business and Economic Forum (TABEF), where Anadolu served as the global communications partner.

There are around 80 South African investor companies operating in Türkiye, Bolat said, while about 75 Turkish companies have invested in South Africa in sectors such as household appliances, plastic products, electronic devices, machinery manufacturing, and wholesale and retail trade.

He said Türkiye and South Africa signed a joint declaration to establish a Joint Economic and Trade Commission (JETCO) and a memorandum of understanding on free zone cooperation, adding that the deal is expected to boost bilateral trade.

“In the first half of next year, we will pay a visit to the Republic of South Africa with a large delegation of Turkish investors, contractors, and business representatives, and hold the first JETCO meeting there,” he added.

The minister noted that South Africa is the most developed, industrialized, and well-infrastructured country on the African continent, with a total GDP of $3 trillion.

He said Türkiye aims to deepen ties with South Africa and other African nations across politics, diplomacy, economy, trade, investment, transportation, and energy under a 2003 Africa strategy, initiated by Turkish President Recep Tayyip Erdogan, and hopes bilateral figures will continue to rise.

"Türkiye approaches Africa with principles of equality, justice, and mutual respect and with the goal of supporting the development and progress of African peoples and countries that have been oppressed for centuries," Bolat stressed.

"It is a reliable, solid, and strong ally and partner for Africa. We view African countries in the same way. Over the past 22 years, Türkiye-Africa relations have reached an excellent level in every field," he noted.