Strengthening Economic Ties and Exploring New Investment Opportunities
Turkish Trade Minister Omer Bolat is set to visit Algeria on June 23-24 and Tunisia on June 25, as part of a North Africa tour aimed at bolstering economic ties and exploring new investment opportunities. According to the Ministry of Trade, Bolat’s first stop will be Algeria.
During his visit, the 55th International Algiers Fair will open its doors, with Turkiye participating as the “Guest of Honor.” The fair, inaugurated by Algerian President Abdelmadjid Tebboune, will feature Bolat, Vice President Cevdet Yilmaz, and Minister of Family and Social Services Mahinur Ozdemir Goktas representing Turkiye. The event is expected to attract 800 participants from 25 countries.
High-Level Meetings and Business Engagements
Minister Bolat, along with Yilmaz and Goktas, will attend the World Turkish Business Council (DTIK) Turkish Business World meeting. During his visit on June 23-24, Bolat will hold high-level meetings with Algerian officials, including his counterpart. He will also open a Trade Delegation and B2B event organized by the Turkish Exporters Assembly (TIM), featuring representatives from both countries.
Algeria: Turkiye’s Largest Investor in Africa
As of 2023, Algeria stands as Turkiye’s second-largest trade partner in Africa, with bilateral trade reaching $6.3 billion last year. Algeria is also the top African destination for Turkish investments, particularly outside of the oil and gas sectors. Over 1,500 Turkish joint ventures operate in Algeria, with total investments exceeding $6 billion. Turkish contractors have undertaken 636 projects worth $21.3 billion in Algeria to date.
Turkiye-Tunisia Business and Investment Forum on June 25
Following his Algeria visit, Minister Bolat will travel to Tunisia on June 25. The Turkiye-Tunisia Business and Investment Forum, organized by the Foreign Economic Relations Board (DEIK) and the Tunisian Union of Industry, Trade, and Handicrafts (UTICA), will take place with the participation of Bolat and Tunisian Minister of Trade and Export Development Kalthoum Ben Rejeb Guezzah.
Bolat will hold discussions with Tunisian officials, including Guezzah, and participate in a roundtable meeting evaluating investment opportunities and conditions in Tunisia. The forum will feature presentations on investment prospects and review current trade and economic relations, focusing on sectors such as tourism, energy, agriculture, industry, and textiles. B2B meetings are also planned.
This forum follows the Turkiye-Tunisia Business and Investment Forum held in Istanbul on June 5, aiming to track the progress of concrete cooperation steps in priority sectors for both countries.
Turkiye-Tunisia Trade Volume Reaches $1.6 Billion
The trade volume between Turkiye and Tunisia was recorded at $1.6 billion in 2023, with $1.3 billion from Turkish exports and $300 million from imports. Turkish contractors have completed 21 projects worth $975 million in Tunisia to date.
Source: Trthaber / Prepared by Irem Yildiz