Prof. Dr. Ömer Bolat, Minister of Trade, Republic of Türkiye, has stressed that his country attaches great importance to strengthening international trade partnerships in light of the current global economic challenges.

He pointed out that Turkiye seeks to establish new frameworks of cooperation based on transparency and reducing trade barriers through multilateral dialogue initiatives, such as the Emerging Markets Forum to be held in cooperation with the Organisation for Economic Co-operation and Development (OECD) in Istanbul this April.

In statements to the Emirates News Agency (WAM) on the sidelines of AIM Congress 2025 being held in Abu Dhabi, the Minister stated that in an increasingly fragmented world, maintaining market openness has become more challenging. “The rise of protectionism, trade barriers, and geopolitical tensions threatens to undermine the global trading system. To maintain market openness, we must focus on building frameworks that promote transparency and reduce barriers to trade. This includes addressing non-tariff barriers and supporting policies that facilitate cross-border investment.”

He pointed out that Turkiye sees the need to build an environment conducive to resuming growth in global trade and investment by confronting unfair practices, stressing the importance of multilateral cooperation within frameworks such as the World Trade Organisation, UNCTAD, the Organisation for Economic Co-operation and Development (OECD) and the G20.

The Turkish Minister went on to say, “Since 2003, the number of Turkish commercial offices in Africa rose from 4 to 31. Secondly, it meant a completed legal framework for trade and investments with African countries. Türkiye signed “Trade and Economic Cooperation Agreement” with 50 African countries, “the Agreement on Mutual Promotion and Protection of Investments” with 31 African countries, and “the Agreement of the Prevention of the Double Taxation” with 18 African countries. Türkiye also signed the Free Trade Agreement with 5 African countries.”

He said, “At the same time, when we launched our Strategy for the continent in 2003, Türkiye-Africa trade volume was US$5.4 billion, and by 2024 it had reached US$37 billion. On the other hand, basically, there are Turkish entrepreneurs and businesses in each of the 54 countries. The total market value of Turkish investments in Africa stands currently at US$10 billion. Turkish contracting companies have so far undertaken 2.021 projects with a value of US$96.6 billion in the African continent.”

Source: Zawya