South Africa Government

04/17/2024 | Press release | Distributed by Public on 04/18/2024 02:07

Deputy Minister Fikile Majola addressesa delegation of Turkish business leaders

The Deputy Minister of Trade, Industry and Competition, Mr Fikile Majola, yesterday addressed a delegation of Turkish business leaders at the Turkish Embassy in Pretoria. The delegation arrived in South Africa to participate in meetings of the South Africa-Türkiye Business Council, aimed at exploring and promoting reciprocally beneficial trade and investment opportunities.

In his keynote address, Majola emphasised the strategic importance of Türkiye as a trading partner for South Africa, particularly within the context of regional trade dynamics.
"Türkiye serves as a critical gateway for South Africa into Eastern Europe, offering access to a vast market with significant potential. We are committed to strengthening our economic ties with Türkiye and believe that this Business Council can play a pivotal role in fostering this collaboration," he stated.

In highlighting the existing trade ties between the two countries, Majola noted that there are currently around 70 Turkish companies with investments in South Africa. He expressed a desire to see this number grow even further.

"We encourage even greater investment by Turkish companies in South Africa, particularly in our key growth sectors such as manufacturing and infrastructure development. These sectors present numerous opportunities for collaboration, technology transfer and job creation," he said.

Beyond manufacturing and infrastructure, Majola emphasised the diverse economic landscape of South Africa, pointing out a multitude of additional sectors ripe for Turkish investment and partnership.

"South Africa boasts a vibrant economy with immense potential across a range of industries, including agriculture and agro-processing, mining, services, energy, the green economy, and infrastructure. We urge Turkish businesses to explore these opportunities and consider partnerships with local companies to leverage their expertise and market access,"

He concluded his address by commending the efforts of the Black Business Council (BBC) and the Turkish Foreign Economic Relations Board (DEIK) in reviving the SA-Türkiye Business Council.

"We applaud the dedication of both the BBC and the DEIK and in reigniting this important platform for bilateral trade cooperation. Through continued collaboration and a focus on identifying win-win partnerships, we can significantly strengthen commercial relations between South Africa and Türkiye," he said.

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