Türkiye-South Africa Bilateral Trade Surpasses $2 Billion, Eyes Further Growth
ISTANBUL — Trade relations between Türkiye and South Africa have exceeded $2 billion over the past two decades, with both countries expressing strong interest in expanding economic cooperation, Turkish Trade Minister Omer Bolat said on Friday.
Speaking at the 5th Türkiye-Africa Business and Economic Forum (TABEF) — where Anadolu Agency served as the global communications partner — Bolat emphasized that despite the solid trade base, there remains significant untapped potential.
Over the past 22 years, Türkiye has exported $650 million worth of goods to South Africa, while importing $1.35 billion in return. Key sectors with further cooperation potential include agricultural machinery, electrical equipment, defense, automotive, mining, energy, logistics, and port operations, he noted.
Currently, around 80 South African companies are actively investing in Türkiye. Meanwhile, nearly 75 Turkish firms operate in South Africa across industries such as household appliances, plastics, electronics, machinery manufacturing, and retail trade.
New Agreements to Boost Trade
Bolat announced that the two countries have signed a Joint Declaration to establish a Joint Economic and Trade Commission (JETCO), along with a memorandum of understanding on free zone cooperation.
“A high-level delegation of Turkish investors, contractors, and business representatives will visit South Africa in the first half of next year for the inaugural JETCO meeting,” he said.
Strategic Partnership Grounded in Equality
Highlighting South Africa’s economic strength, Bolat described it as the most developed and industrialized nation in Africa, with a total GDP of $3 trillion.
He reiterated Türkiye’s longstanding commitment to Africa under its 2003 Africa Strategy, initiated by President Recep Tayyip Erdoğan, stating:
“Türkiye approaches Africa with principles of equality, justice, and mutual respect, aiming to support the development of nations that have faced historical injustices.”
He added that Türkiye is a “reliable and strong partner” for African countries, and that bilateral relations have reached an excellent level across politics, trade, diplomacy, transportation, and energy over the past two decades.
