Deputy Minister Majola Highlights Trade Opportunities with Turkish Business Delegation

Pretoria, South Africa – April 16, 2024

In a bid to bolster bilateral trade ties, Deputy Minister of Trade, Industry, and Competition, Mr Fikile Majola, welcomed a delegation of Turkish business leaders at the Turkish Embassy in Pretoria yesterday. The delegation’s visit marks the commencement of meetings of the South Africa-Türkiye Business Council, with a focus on exploring mutually beneficial trade and investment opportunities.

Addressing the gathering, Deputy Minister Majola underscored the strategic significance of Türkiye as a crucial trading partner for South Africa, particularly within the framework of regional trade dynamics. “Türkiye serves as a critical gateway for South Africa into Eastern Europe, offering access to a vast market with significant potential. We are committed to strengthening our economic ties with Türkiye and believe that this Business Council can play a pivotal role in fostering this collaboration,” he stated.

Highlighting the existing trade relations between the two nations, Majola noted the presence of approximately 70 Turkish companies with investments in South Africa and expressed a desire to see this number grow further. “We encourage even greater investment by Turkish companies in South Africa, particularly in our key growth sectors such as manufacturing and infrastructure development. These sectors present numerous opportunities for collaboration, technology transfer, and job creation,” he emphasized.

Furthermore, Majola underscored the diverse economic landscape of South Africa, pointing out various sectors ripe for Turkish investment and partnership. “South Africa boasts a vibrant economy with immense potential across a range of industries, including agriculture and agro-processing, mining, services, energy, the green economy, and infrastructure. We urge Turkish businesses to explore these opportunities and consider partnerships with local companies to leverage their expertise and market access,” he added.

In conclusion, Majola commended the efforts of the Black Business Council (BBC) and the Turkish Foreign Economic Relations Board (DEIK) in revitalizing the SA-Türkiye Business Council. “Through continued collaboration and a focus on identifying win-win partnerships, we can significantly strengthen commercial relations between South Africa and Türkiye,” he remarked.

The meetings of the South Africa-Türkiye Business Council are anticipated to pave the way for enhanced cooperation and economic exchanges between the two nations, fostering mutual prosperity and growth.