The volume of trade between Turkey and African countries has multiplied four-fold over a period of 18 years, said the head of Turkey’s External Economic Relations Council (DEIK) on Tuesday.

The president of the External Economic Relations Council of Turkey (DEIK), Nail Olpak, stated that the growth in trade has been accompanied by an increase in political confidence between Turkey and African countries over this period.

The President of the External Economic Relations Council of Turkey, Nail Olpak, said that Turkey has followed a win-win approach and pursued its strengthening policies based on equality, transparency, and sustainability.

On Turkey’s proactive role during the Coronavirus pandemic, Nail Olpak said that the Turkish private sector has taken the government’s lead, as representatives operating in Africa have produced and donated masks and other personal protective equipment to several countries.

“As DEIK, we will continue to assist the continent’s integration efforts,” she said, adding that the Turkish business world continues to be interested in stepping up investment in Africa after the pandemic.

‘Africa needs $150 billion’

Khaled Sherif, Vice President of the African Development Bank (ADB), highlighted the precarious economic situation in Africa, saying that the continent was recovering from a series of shocks, such as the collapse of the oil and commodity markets.

He said that bilateral and multilateral debt payments had turned difficult for the service sector as various African countries such as Kenya, Egypt and South Africa were heavily reliant on tourism.