Turkish trade minister to embark on Africa tour
ANKARA: Turkish Trade Minister Ruhsar Pekcan will set off on an Africa tour this week to explore new business cooperation opportunities. Pekcan along with a Turkish business delegation will visit Nigeria and Morocco on MondayTuesday, according to state News Agency.
On Tuesday, the Turkey-Nigeria Business Forum will be held in the capital Abuja. It will be chaired by Pekcan and her Nigerian counterpart Richard Otunba Adeniyi Adebayo.
Pekcan will also meet with Yemi Osinbajo, the Nigerian vice president, and Zubairu Dada, the Nigerian foreign affairs minister, to discuss bilateral economic relations and investments. Nigeria is the sixth largest trade partner of Turkey in Africa and the second in Sub-Saharan Africa. The two countries' trade volume was $2.3 billion in 2019. Meanwhile, Turkish contractors assumed 48 projects worth $1.8 billion so far.
Hakan Ozel, the head of Turkey-Nigeria Business Council of the Foreign Economic Relations Board (DEIK) , said that Turkey can provide quality and cost-effective products for Nigeria. "Nigeria's economy is based on imports, there are markets for every Turkish product in the country which has a 200-million population," he told Anadolu Agency.
As part of Pekcan's Morocco visit, Turkey-Morocco Free Trade Agreement's joint committee meeting will be organized in the capital Rabat. Pekcan will meet with Mohamed Benchaaboun, the economy and finance minister, Mouly Hafid Elalamy, the industry, trade and digital economy minister, and Abdelkader Amara, the equipment, transport, logistics and water minister. Morocco was one of the 17 countries which was highlighted in Turkey's Export Master Plan, released last September, for raising exports in five main sectors-machinery, automotive, electric and electronics, chemical and food.
Turkey's exports to Morocco rose by 16% to reach $2.3 billion in 2019 on an annual basis, and imports from Morocco dropped by 3.5% to stand at $690 million.
Mehmet Buyukeksi, the head of DEIK's Turkey-Morocco Business Council, said Turkish business people have investments worth around $1 billion in Morocco and they employ almost 8,000 Moroccan people.
"At the invitation of the US, Liu He will be leading a delegation to Washington from January 13 to January 15 to sign the Phase One deal," commerce ministry spokesman Gao Feng said at a weekly press briefing. "Both parties are in close communication regarding the detailed arrangement of the signing," Gao said, without providing more details.
US and Chinese officials have said the agreement includes protections for intellectual property, food and farm goods, financial services and foreign exchange, and a provision for dispute resolution. Trump has also reduced or cancelled some tariffs.