The African Union Commission and the Government of Turkey have signed a Cooperation Framework Arrangement on the organization of the Third Africa-Turkey Economic and Business Forum. The Forum will be held in Istanbul, Turkey from 21 to 22 October 2021 under the theme “Deepening Turkey-Africa Strategic Partnership: Trade, Investment, Technology and Logistics”. The Forum provides an opportunity for participants drawn from Public and Private sectors in Africa and Turkey, to engage in a wide array of exchanges and discussions, to jointly identify ways to scale up the private sector engagement as a catalyst for sustainable and inclusive development. The Cooperation Framework Agreement was signed by Amb. Albert Muchanga, AU Commissioner for Economic Development, Trade Industry and Mining and Amb. Yaprak Alp, Ambassador of the Republic of Turkey to Ethiopia.

While the public sector has a responsibility to create an enabling environment for businesses to thrive, the private sector, equally plays a key role in among others, enhancing trade and investment, expanding innovations and resource mobilization for investment in socio-economic projects. Increased investment is a prerequisite for the realization of Africa’s Agenda 2063.

Amb. Muchanga noted that the Africa-Turkey Economic and Business Forum has over the years, created great opportunities to generate critical investments through active collaboration among the entrepreneurs. He also noted the timeliness of the signing of the Cooperation Framework as a means of scaling up the private sector’s active participation, towards the achievement of economic transformation of Africa by way of strengthened productive capacities, enhanced competitiveness, diversification in all sectors and substantial value addition. “As we stand now, tremendous milestone have been made towards ensuring smooth preparations including documentation as well as logistical preparations. Our principle should be to improve living standards of our people through enhancing private sector development, thereby increasing our countries economic growth and development.”

On her part, Amb. Yaprak highlighted trade and business aspects as one of the most dynamic parts of the African Union- Turkey relationship. She also observed that the start of trading under the African Continental Free Trade Area will not only to boost intra-African trade but also to strengthen trade and investment links between Turkey and Africa. “For this to be fully functional, more pan-African investment networks and infrastructure are required. Turkey would be honoured to play a positive role in this vein through the interface of the African Union. These and many other issues will be explored in Istanbul and I hope this will be a new turning point in Africa-Turkey trade and economic relations.”

Relatedly, the African Union and Turkey are also scheduled to convene the Third Africa-Turkey partnership Summit to be held in December in Istanbul.

For further information, please contact:

Mr. Islam Swaleh | Department of Economic Development, Trade, Industry and Mining | African Union Commission | Email: swalehi@africa-Union.org  | Addis Ababa, Ethiopia

Doreen Apollos | Information and Communication Directorate | African Union Commission | E-mail: ApollosD@africa-union.org l | Addis Ababa, Ethiopia

Information and Communication Directorate, African Union Commission I E-mail: DIC@africa-union.org
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