Turkish and South African companies met in Johannesburg on Friday to explore investment opportunities.
“Our (Turkish) economy is one of the fastest growing economies in the region. Over the past 19 years, Turkey’s economy grew at an average of 5.4%, but in the first quarter of this year it grew to 7.4%,” Yasemin told Anadolu Agency. Esenlik, a representative of the investment office of the Presidency of the Republic of Turkey. After the meeting.
She traveled to South Africa with two other colleagues to promote investment opportunities for Turkey during the South Africa-Türkiye Investment and Trade Day event organized by the Turkish Embassy and the Chamber of Commerce and Trade. Johannesburg industry.
She said Turkey is an excellent investment destination due to its strategic location between Asia and Europe.
“Turkey has attracted $240 billion in foreign direct investment (FDI) over the past 19 years and in 2021 we have attracted $14.1 billion. We are close to our pre-pandemic FDI numbers,” Esenlik said.
She said companies around the world choose Turkey because it is a manufacturing and logistics hub, and a research and development center with more than 500 companies headquartered in the country. .
Esenlik said there are currently more than 60 South African companies operating in Turkey and 70 Turkish companies operating in South Africa. She said the trade volume between the two countries was $2.1 billion.
“There are a couple of things that stood out to me as we explored these different aspects (of investment opportunities) and one particular aspect for us is to say that South Africa and Turkey are both great. ‘great business destinations. From a perspective that Turkey is a gateway to Europe in terms of location in Central Europe, and provides a lot of support for businesses to enter and navigate on the way.” Shawn Theunissen, director of the Johannesburg Chamber of Commerce and Industry, told Anadolu Agency after the meetings.
He said the focus has been on manufacturing in the automotive industry as well as the renewable energy space.
“From a South African perspective, we also see Johannesburg and (especially South Africa) as a gateway to the rest of Africa,” Theunissen said.
He said he heard the experiences of South African companies that have invested in Türkiye such as Metair and Turkish companies in South Africa such as Defy.
“Some key sectors that we have explored in terms of opportunity are in the extractive industry, the manufacturing space, the retail space, particularly from a fabric and fashion perspective, but also in the tourism space,” he said.
Turkey’s Ambassador to South Africa, Aysegul Kandas, told Anadolu Agency: “The event was a success with around 100 people attending, which shows growing interest in investment and trade between two countries”.