Türkiye-South Africa trade, investment ties flourish
Türkiye's ambassador to Pretoria highlights the growing trade and investment relationship, noting an increase in Turkish investments in South Africa
Trade and investment between Türkiye and South Africa are experiencing robust growth, as affirmed by the Turkish ambassador to Pretoria on Monday.
Ambassador Aysegul Kandas emphasized the growing Turkish investment in South Africa, stating, "Turkish investments in South Africa have reached a total of $32 million, indicating a rise from the $31 million reported in 2022."
She further noted that South Africa's investments in Türkiye rose from $217 million in 2022 to $274 million by the close of 2023.
Kandas highlighted the presence of Turkish businesses in South Africa, with an estimated 60-70 companies operating across various sectors, including textiles and food.
Among the notable Turkish investors is Arcelik, a leading producer of small household appliances in Türkiye, which owns the popular South African appliance brand DEFY. With operations that employ 2,700 individuals, Arcelik's contributions extend beyond job creation to bolstering South African exports to the Southern African Development Community bloc comprising 16 countries.
Another significant investor is the Turkish defense company Aselsan, managing its sub-Saharan Africa operations through its South African subsidiary.
In addition to businesses, Turkish entrepreneurs have established stores dealing in clothing, food, carpets, furniture, and more.
Regarding South African companies operating in Türkiye, Kandas highlighted the presence of over 65 such firms, with Met Air standing out as the largest among them.
Kandas highlighted the trade relationship between the two countries, revealing that the trade volume surged from $2 billion in 2021 to nearly $3 billion in 2022 before experiencing a slight dip in 2023 to over $1.95 billion. Despite this minor setback, concerted efforts are under way to strengthen trade ties for the mutual benefit of both nations.
Source: Anadolu Agency
