Gradually increasing trade between Turkey and Africa, new projects worth $55 billion and the increasing number of Turkish embassies on the continent paves the way for a new era in bilateral relations
Human development projects, mutual profit-based trade, permanent investments and diplomatic efforts have paved the way for the beginning of a new era in Turkey-Africa relations as a part of Turkey's Trade and Economic Enhancement Strategy toward Africa.
Turkish contractors are among the major actors on the continent and have undertaken over 1,150 projects worth $55 billion in Africa since the early 1970s.
Share of African countries' share in Turkish contractors' overall international business volume is around 21 percent (North Africa has 19 percent).
There are 39 Turkish Embassies in Africa in addition to Trade Counsellor Offices, and Turkey's ultimate goal is to establish diplomatic missions in all 54 African states.
The Foreign Economic Relations Board (DEIK) has also established business councils with its African counterparts in 31 countries.
At present, Turkish Airlines flies to 50 destinations in 31 countries on the continent, up dramatically from the four destinations it served in 2003.
Turkey's trade volume with Africa totaled $19.5 billion in 2015, up 16 percentage from 2008, and 258 percent from 2003.
Turkey's exports increased almost six fold from 2003 to 2015, and imports more than doubled in the same period.
Turkey's share of Africa's trade volume raised to 2.3 percent in 2014 and African countries' share of in Turkey's trade volume was 8.7 percent in 2015. In 2003, they were 1 percent and 4.5 percent, respectively.
Turkish foreign direct investment in Africa exceeded $6 billion in 2015, whereas it was less than $100 million in 2003.
President Recep Tayyip Erdoğan's official visit to the three African countries of Tanzania, Mozambique and Madagascar is a significant milestone in the increase of investment opportunities and potential business opportunities in seven sectors.
Natural gas is expected to be extracted from the northern part of Mozambique, which will become one of the world's leading exporters of liquefied natural gas (LNG) after the construction of liquidation facilities and terminals.
The total investment value of these facilities is expected to be approximately around $30 billion and is expected to become opperational by 2020, according to DEIK.
In Tanzania, the business figures who accompanied Erdoğan on his visits will meet with local authorities about major value-added investment opportunities and the processing of agricultural products such as coffee, cotton, tea, tobacco, cashews, corn, sugar, rice, legumes and wheat.
In Madagascar, business representatives are expected to largely conduct meetings related to investments in tourism.
