Minister of Foreign Trade Zafer Çağlayan visited to South Africa with a delegation of more than 100 businesspeople for trade talks with South African officials and to attend the Turkish-South African Business Forum, jointly organized by the Undersecretariat of Foreign Trade (DTM), SATBA Partner the Turkish Confederation of Business and Industrialists (TUSKON), the Turkish Exporters’ Assembly (TİM), and the İstanbul Exporter Unions (İİB). Speaking to the businesspeople ahead of the event, Çağlayan said Turkish businesspeople avoid expanding into new markets, fearing the competitive advantage of their Chinese counterparts along with the adverse effects of the global financial crisis. To find ways of ensuring that businesspeople will explore new markets, the ministry is planning to have talks with exporting committees, the minister said, adding that measures will be taken within the next 15 days to encourage businesspeople. 

Telling Turkish businesspeople about the advantages of expanding into South Africa, Çağlayan said the market offers lucrative opportunities for the Turkish vehicle industry. He drew attention to the work of TUSKON in South Africa, saying the confederation acts as a bridge between Turkey and African countries, enhancing Turkey’s trade relations with those countries.

Turkey’s exports to South Africa climbed from $121.5 million in 2003 to $1.2 billion in 2008, accounting for a rise of 90 percent. Along with coal, automotive products, chromium and stainless steel, Turkey mostly imports gold from South Africa, which is also rich in diamonds, iron, manganese, nickel, phosphate, tin, uranium, copper, vanadium and salt. Turkey’s main exports to South Africa are automobiles, paper products and tractors. The amount of Turkish investments in South Africa has reached $60 million.