Turkish Gov’t gears up to boost mutual trade with Ghana to $1 bln


Date posted: January 23, 2013

GAMZE GÜL, İSTANBUL

Economy Minister Zafer Çağlayan said on Wednesday at a forum organized by TUSKON that the government is gearing up to increase the mutual trade volume with Ghana from $550 million in 2012 to $1 billion in the next two years.

Speaking to participants at the Turkey-Ghana Trade and Investment Forum organized by the Turkish Confederation of Businessmen and Industrialists (TUSKON) in İstanbul, Çağlayan noted that at the request of Prime Minister Recep Tayyip Erdoğan, Turkey’s state-owned export credit agency, Eximbank, will now be giving loans to investors in Ghana. He also announced that agreements regarding the double taxation on traded goods and protection of investments will begin to be enforced in the near future.

Referring to the fact that 2013 has been selected as the “year of Africa” by the Turkish government and that the relations between Africa and Turkey have improved tremendously in the past decade, the minister stated that the trade volume between Turkey and the continent was $3 billion 10 years ago, which increased to $30 billion in 2012. “For example, Turkish constructors have invested a total of $245 billion in the past 10 years, and $45 billion of it was in Africa,” he added.

Furthermore, he stated that 80 Turkish firms operating in Ghana have made investments totaling $60 million and urged Turkish businessmen to take advantage of the loans Eximbank provides for opportunities mainly in the energy and infrastructure fields, as well as agriculture and construction. “Also, we will continue to take part in social projects to contribute to improving the fields of health and education.”

Addressing the participants, Ghana President John Dramani Mahama reassured prospective investors by saying, “Peace and stability is the biggest asset of Ghana.” He then called on businessmen to invest in Ghana by expressing that the country’s second largest asset is its human resources. He stated, “Ghana provides a comparative advantage in energy production,” while explaining that the country aims to produce electricity with the partnership of Turkish businessmen for the whole of Africa, which has market value of $700 billion

Mahama stated that the country has opened a new chapter in its relations with the world in line with global economic developments and said Turkey has become a prominent country when it comes to economic relations. “Ghana has an increasingly skilled workforce, rich mines and great potential for petroleum production. Also, it is one of the most important gold producers with an annual production of 80 tons,” he commented, adding that they also plan on improving the capacity of country’s ports and airports.

Meanwhile, during his speech, TUSKON President Rızanur Meral pointed out that Ghana is the fastest growing country in Western Africa, while emphasizing that the country has a need of 1.5 million homes and hoping for investments in infrastructure, telecommunications, energy and agriculture.

Source: Today’s Zaman 23 January 2013


Related News

TUSKON’s Turkish-Filipino Initiatives to Open New Trade Doors

TUSKON, Confederation of Businessmen and Industrialists of Turkey, opens new trade doors with Turkish-Filipino Business Forum in the capital Manila. A delegation of TUSKON businesspeople organized a business trip to the Philippines on January 26-30. As a part of their agenda, the delegation met with the Vice President of Philippines Jejomar Binay at the presidential […]

Erdogan Budgets $150m To Displace Hizmet Schools In Africa

The motive behind Maarif Foundation is to use it as a tool to pressurize African countries to transfer ownership of Hizmet movement linked schools to the Maarif Foundation since the request for the closure of these schools were turned down for lacking in merit.

Bank Asya shares skyrocket after trading resumes

The Islamic bank has been in the spotlight since Turkish media reported that state-owned companies and institutional depositors loyal to Prime Minister Recep Tayyip Erdoğan had withdrawn TL 4 billion ($1.8 billion), or some 20 percent of the bank’s total deposits, because the bank’s founders include sympathizers of cleric Fethullah Gülen, a former-ally-turned-critic of Erdoğan.

African Union Commission chair receives Gülen peace award

Nkosazana Dlamini-Zuma, the chairperson of the African Union Commission, was awarded the Fethullah Gülen Peace and dialogue Award during the eighth annual Ubuntu Lecture and Dialogue Awards ceremony, held in Johannesburg on Thursday evening.

Fethullah Gülen’s message to Turquiose Harmony Institute “Peace and Dialogue Awards”

The awards were organized by the Turquoise Harmony Institute, a dialogue center inspired by prominent Turkish Islamic scholar Fethullah Gülen to promote mutual understanding and exchange between people from different cultures and religions.

Executives of TUSKON call on Ghana GCCI

Turkey is to strengthen her business relationship with Ghana and considers the Ghana Chamber of Commerce and Industry as the conduit. This was disclosed by the Executives of the key Turkish business group, the Turkish Confederation of Businessmen and Industrialists (TUSKON) when they paid a courtesy call on the Ghana Chamber of Commerce and Industry (GCCI) on 10th September, 2014.

Latest News

Fethullah Gulen – man of education, peace and dialogue – passes away

Fethullah Gülen’s Condolence Message for South African Human Rights Defender Archbishop Desmond Tutu

Hizmet Movement Declares Core Values with Unified Voice

Ankara systematically tortures supporters of Gülen movement, Kurds, Turkey Tribunal rapporteurs say

Erdogan possessed by Pharaoh, Herod, Hitler spirits?

Devious Use of International Organizations to Persecute Dissidents Abroad: The Erdogan Case

A “Controlled Coup”: Erdogan’s Contribution to the Autocrats’ Playbook

Why is Turkey’s Erdogan persecuting the Gulen movement?

Purge-victim man sent back to prison over Gulen links despite stage 4 cancer diagnosis

In Case You Missed It

Experiences with Hizmet and the Followers of Fethullah Gülen

‘Well, you were saying Hizmet is a religious movement?’

Turkish imam in Australia mobilizes worshippers to spy on Gülen movement

Kimse Yok Mu delivers iftar meals to homes

Turkish Olympiad Finals add a festive air to Kiev

Police chief request promotion for taking part in ‘parallel’ witch-hunt

Reporters Without Borders urges Turkey to rescind draconian state of emergency decrees

Copyright 2025 Hizmet News