Satba and Fabcos PDF Print E-mail
Monday, 16 November 2009 12:02
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South African-Turkish Business Association (SATBA) has signed a memorandum of understanding with The Foundation for African Business and Consumer Services, (Fabcos) which aims to boost trade and business relations between the two countries. Business and government delegation from Turkey were upbeat and optimistic when SATBA Chairman, Yusuf Sariyaprak and Fabcos President, Mxolisi Zwane committed themselves to foster constructive business relations between the two chambers. The two organisations have been in exploratory engagements for the past two years in a bid to strengthen the development of bilateral relations between the business communities of Turkey and South Africa. To realise these objectives, the two entities will provide a regular and recognised platform for business, ideas exchange and promote economic activities through the development of bilateral business relations. They will provide a forum for the business communities of both countries to interact, discuss and explore business opportunities in trade, investments, technology transfer, import and export services and products between the two countries.
Commenting on the terms of the agreement, Chairman of SATBA, Yusuf Sariyaprak said his organisation was committed to working with a proactive, nationally recognised member-driven organisation like Fabcos. “There are outstanding opportunities for South African businesses to explore in Turkey and we are keen to intensify business interactions.” Sariyaprak said a number of delegations from Fabcos will travel to Turkey in fact-finding missions that will include the exchange of economic information, participate in trade fairs, promote trade missions between the two countries and encourage SMMEs to interact and network with Turkish industries. Turkey is a healthy gross domestic product and the world’s 15th largest economy.
Last year its construction sector contributed $81.71billion to the economy followed by the manufacturing and the agricultural sectors earning billions on exports. Adding his satisfaction with the newly-formed partnership, Zwane conceded that this deal marks the beginning of a strong and lasting relationship with SATBA. “I trust that the signing of the MoU will form mutually constructive relationships and a base for trade relations between the two countries.” Zwane said some Fabcos members are currently benefiting from clothing franchises from Turkey, where they sell quality clothing for children. “We are open for business and we are anticipating more business.”
Meanwhile, a Turkish Member of Parliament who witnessed the signing, Nurettin Cenikli, said he was upbeat about the partnership and was looking forward strengthening relations between the two countries.

Last Updated on Monday, 18 January 2010 13:07