South Africa and Turkey Commit to Enhancing Trade and Economic Relations

This emerged on the last day of the third Session of South Africa-Turkey Joint Economic Commission

JOHANNESBURG, South Africa, October 5, 2017/APO/ -- 

South Africa and Turkey have committed to strengthening trade and economic relations between the two countries with the aim of increasing two-way bilateral trade and investment. This emerged on the last day of the third Session of South Africa-Turkey Joint Economic Commission (JSE) which was addressed by the Minister of Trade and Industry, Dr. Rob Davies, and the Turkish Minister of National Education, Dr. Ishmet Yilmaz in Pretoria today.  

“We have noticed and welcomed the fact that in recent years Turkey has been reaching out into the African continent. As a country, we are in a situation where we are growing far too slowly. What we need to do as the South Africa economy and also as part of the African Continent is to diversify, move up the value-chain and industrialise. Our priority in this regard is the African Continent and the promotion of regional integration in Africa because we need to strengthen the size of the market in our continent and support diversification and the emergence of value-chains within our continent,” said Minister Davies.  

What we need to do as the South Africa economy and also as part of the African Continent is to diversify, move up the value-chain and industrialise

He expressed satisfaction that bilateral trade between Turkey and South Africa continued to show a growing trend since the last JSE was held in Ankara, Turkey in 2012.

Both ministers pledged to work together to ensure maximum utilisation of initiatives aimed at promoting two-way trade between the countries. These include enhancing of direct contacts between business communities of the two countries, synchronising and identifying promotional activities to be held in each other`s countries which present possible cooperation in mutual beneficial areas, with regard to exports and imports; and encouraging the participation of the relevant companies in fairs, trade exhibitions and conferences held in each other`s countries.

During the session, South Africa and Turkey also committed to redoubling their efforts to deepen investment by encouraging and supporting mutual investments through the exchange of business delegation visits in prioritised sectors and providing necessary, and possible support to investors from their respective countries required to maintain their operations effectively, amongst others. The countries’ public and private sectors will also be working together with identify investment opportunities existing in both countries.

Distributed by APO on behalf of The Department of Trade and Industry, South Africa.