Turkey Financial News

Posted by meb at November 25th, 2008

A senior official from the Turkish Undersecretariat of Foreign Trade said on Tuesday that the trade volume between Turkey and African countries increased by 113 percent thanks to the implementation of an improvement strategy targeting the African market.

Tuncer Kayalar, Undersecretary for Foreign Trade, told the Anatolian news agency that Turkey’s exports to African countries rose up to 5.9 billion USD, while its imports from such countries increased to 6.8 billion USD in 2007.

“We expect export figures to reach 9.5 billion USD by the end of 2008,” Kayalar said.

Kayalar said African countries not only constituted an ideal market for exports, but also they offered cheap raw materials for industrial activities. (more…)

Posted by meb at August 21st, 2008

Various African nations and Turkey have decided to establish a common chamber of commerce so as to ensure better organization of trade relations between them.

The Turkish Union of Chambers and Commodity Exchanges (TOBB) and the Union of African Chambers of Commerce, Industry, Agriculture & Professions (UACCIAP) will work together to establish the Turkish-African Chamber (TAC).

The decision was announced as part of the İstanbul Declaration, read yesterday during a breakfast that was part of the ongoing Turkey-Africa Cooperation Summit, organized jointly by the Foreign Economic Relations Board (DEİK) and the Turkish Confederation of Businessmen and Industrialists (TUSKON). TOBB Chairman Rifat Hisarcıklıoğlu read the declaration out loud at the meeting, in which Turkey’s President Abdullah Gül also participated. (more…)

Posted by meb at May 16th, 2008

The third Turkey-Africa Trade Bridge opened this week with a lively celebration and record participation, but it was marked with sadness due to the tragic sudden death of İstanbul Gold Refinery Chairman Ömer Halaç, a 38-year-old Turkish businessman who had just returned from a trip to the Central African Republic.

His family and friends remember him as a young man with great dynamism and the intellectual courage to venture out into the wilderness of Africa to set up a mining operation. He contracted malaria in a remote area 200 kilometers from the capital of Bangui. (more…)

Posted by meb at May 15th, 2008

Witnessing the sight of 3,500 business professionals from Turkey and 45 African countries networking to strike a deal is like watching the National Geographic channel featuring bumblebees that pollinate plants and flowers as they forage for food.

One might sense such a resemblance while observing the third Turkey-Africa Trade Bridge, a gigantic business expo taking place May 13-15 at the İstanbul WOW Convention Center and organized by the Turkish Confederation of Businessmen and Industrialists (TUSKON). Just as it is a welcome sight for gardeners to see bees in flight carrying large loads of pollen into and around their flowerbeds and gardens, TUSKON organizers seem to have been very pleased with the activity on the exhibition floor yesterday. (more…)

Posted by meb at May 14th, 2008

The Third Turkey-Africa Trade Bridge, organized by the Turkish Confederation of Businessmen and Industrialists (TUSKON), was officially opened yesterday by Foreign Trade Minister Kürşad Tüzmen at the İstanbul Wow Hotel.

The record number of participants and high-level representation marked the event as yet another indication of the growth business relations between African countries and Turkey have seen in recent years. “Our goal is to bring the total volume of trade to approximately $20 billion this year,” Tüzmen said, adding, “Our target for 2012 is $50 billion.” (more…)

Posted by meb at May 13th, 2008

The third edition of the Turkish Confederation of Businessmen and Industrialists (TUSKON) Foreign Trade Bridge between Turkey and Africa will open today in İstanbul.

The business relations between African countries and Turkey have increased significantly in recent years, with Turkey targeting Africa as a trade partner and the foreign trade summits organized by TUSKON paving the way for the establishment of business ties. (more…)