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SA-Turkey urged to exploit respective markets

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Old 11-26-2013, 10:07 AM   #1
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Global SA-Turkey urged to exploit respective markets

South Africa and Turkey should form an alliance to exploit opportunities in their respective markets, says Trade and Industry (dti) Deputy Minister Elizabeth Thabethe.

“Similarities between our countries are striking. As emerging economies we both play a dominant role in our respective regions. The growth of our countries is following the same trajectory and if I compare our Gross Domestic Product (GDP) and GDP per capita, both our countries are affected by the same challenges.

“It is therefore of key importance that we combine our strengths in order to increase the less than impressive trade volumes that currently exist between our countries,” she said.

Thabethe was addressing a business seminar in Instanbul, Turkey, on Monday.

Thabethe is in Turkey with a business delegation on an outward selling and investment mission that kicked off on Sunday.

The mission will assist South African companies to promote investment opportunities, explore joint ventures and also provide a platform to promote South African manufactured products to potential new Turkish partners.

The economies of both countries were complimentary in nature.

South Africa’s ambassador to Turkey, Mazwi Khumalo expressed excitement at the prospect of key joint ventures that were in line to emerge from the business engagements.

“It is clear that the cordial economic relation between ourselves is well worth developing further and your presence here today is indicative of your eagerness to grow this relation further,” he told delegates at the seminar.

“Turkish and South African markets are dynamic and that there is more than one partner to trade with in both of our economies,” he said.

As part of the investment mission, Thabethe held bilateral meetings with the DEIK Turkey-Africa Business Council and the Textiles Exporters Union.

Turkey has invested more than $5 billion in South Africa, said DEIK Turkey-Africa Business Council Chairperson Tamer Taskin.

“Our economy is the 17th largest in the world. We have one of the most favourable conditions to setting-up business operations in. Our prices are highly competitive. All these conditions are for your benefit and I urge all of you to utilise our services,” he added.

On South Africa’s side, there is a strong political will to further deepen socio-political ties between the two countries, said Thabethe.

“I hope that this will serve as a platform for business-to-business engagements to flourish,” she said

The investment mission will conclude on Friday. -
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