Istanbul: The trade volume between Trkiye and Africa surpassed $37 billion in 2024, with a target of $40 billion set for 2025, Trade Minister Omer Bolat announced on Thursday. Speaking at the 5th Trkiye-Africa Business and Economic Forum in Istanbul, Bolat emphasized the importance of the gathering amid rising global uncertainty and protectionist trade policies.

According to Anadolu Agency, Bolat expressed satisfaction with the deepening strategic relations between Trkiye and African countries in economic, commercial, cultural, and social fields. He stated that Trkiye's total trade volume with Africa has increased over sevenfold since 2003. Bolat also highlighted the contribution of Turkish contractors, who have completed 2,043 development projects in Africa, worth nearly $100 billion.

Bolat noted that Turkish Airlines plays a crucial role in connecting Africa to the rest of the world, with flights to 62 destinations across more than 40 African countries. He also mentioned the efforts of the Turkish Cooperation and Coordination Agency (TIKA) and other aid groups in implementing cultural, social, and humanitarian projects across Africa.

Nearly 3,000 African businesspeople have registered for the summit, joining thousands of Turkish businesspeople to foster collaboration. Bolat mentioned that panels on more than seven key topics will be held, with six Turkish ministers participating in discussions and bilateral meetings.

The 5th Trkiye-Africa Business and Economic Forum, taking place at the Istanbul Congress Center from Oct. 16-17, is organized by the Foreign Economic Relations Board (DEIK) in collaboration with the African Union (AU) and hosted by the Turkish Trade Ministry. The event will cover themes like textile value chains, infrastructure financing, pharmaceuticals, logistics, women's leadership, food security, energy, mining, civil aviation, and digital trade.