{"id":22678,"date":"2023-10-14T18:56:12","date_gmt":"2023-10-14T18:56:12","guid":{"rendered":"https:\/\/www.africa-press.net\/eritrea\/all-news\/africa-turkiye-link-to-boost-trade"},"modified":"2023-10-14T20:29:05","modified_gmt":"2023-10-14T20:29:05","slug":"africa-turkiye-link-to-boost-trade","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eritrea\/all-news\/africa-turkiye-link-to-boost-trade","title":{"rendered":"Africa-T\u00fcrkiye link to boost trade"},"content":{"rendered":"

Africa-Press – Eritrea. <\/strong><\/span>INSTANBUL<\/b> THE Fourth Africa-Tu\u0308rkiye Economic and Business Forum (TABEF) has called for augmentation of seamless operation of the African Continental Free Trade Area (AfCFTA) to guarantee and promote increased intra-African trade.<\/p>\n

Under the AfCFTA mechanism, a market of 1.3 billion people and a value of 3.4 trillion dollars is expected to be created.<\/p>\n

However, the intra-African trade is envisioned to increase by 50 per cent, providing the world an additional income of 76 billion US dollars.<\/p>\n

According to a joint communique of TABEF which convened at the Istanbul Congress Centre (ICC) in Istanbul, Tu\u0308rkiye between 12-13th of October, such initiative is envisioned to expand the African market with the ultimate goal of creating value chains between Africa and Tu\u0308rkiye as well as trading of products and service.<\/p>\n

\u201cThe forum noted that the African and Turkish private sectors have a shared interest in the successful and effective implementation of the AfCFTA,\u201d said the Communique.<\/p>\n

Hosted by the Ministry of Trade of the Republic of Tu\u0308rkiye, in coordination with the African Union and organised by DEI\u0307K, the forum also stressed the urgency to respond to the on-going rising of global commodity prices and food insecurity as well as natural disasters which are affecting the poor and vulnerable people.<\/p>\n

Considering these challenges and with a view to building meaningful partnership anchored on mutually beneficial cooperation between the two sides, the Forum committed to further strengthen bilateral relations and look forward to continuing Business-to-Business and Business-to-Government cooperation and dialogue in the most respectful, constructive and in a win-win context in various areas.<\/p>\n

Among such areas include manufacturing and agro-processing, whereby investments in logistics, including cold chain logistics and modern storage facilities, labs, information and communication technologies have been highlighted as priority areas that will support the creation of regional value chains in manufacturing and agriculture in Africa.<\/p>\n

They reaffirmed the need to deliberately invest in the exchange of best practices, skills and knowledge necessary for developing joint production and exports capacity.<\/p>\n

The Forum equally called for the intensification of collaboration to improve and augment the existing networks of Digital Innovation Hubs in Africa to deal with digital capacity gaps that exist amongst African and Turkish businesses.<\/p>\n

\u201cThe public sector of the Turkish and AU need to support the development of an attractive health industrial environment in Africa by encouraging local, regional and international private sector investments in the health sector,\u201d the Communique stated.<\/p>\n

They, however, stressed the need to support growing demand for reliable local markets for healthcare products, including locally produced essential medicines and actively encourage voluntary and mutually agreed technology transfer and joint ventures.<\/p>\n

With its main theme \u201cAddressing Challenges, Unlocking Opportunities: Building Stronger Tu\u0308rkiye-Africa Economic Partnerships\u201d the forum also committed to supporting women and youth entrepreneurs, skills training and development, strengthening existing SME matchmaking mechanisms and supporting business development centers, business incubators and technology hubs in collaboration with the private sector from both sides.<\/p>\n

In terms of trade and investment, they called upon Turkish and African financial institutions to design financial instruments necessary to finance investments and overall economic development in Africa as well as joint ventures and partnerships between Turkish and African businesses.<\/p>\n

Likewise, tourism was identified as a priority sector under the Tu\u0308rkiye-Africa Partnership framework for boosting economic and social development through the generation of employment and the development of touristic resources and called on the parties to work on improving connectivity, technology transfer and promotion of cultural exchanges.<\/p>\n

The Communique recognised that deepening of Africa\u2019s economic integration will help promote peace and stability in the continent and appreciated the efforts and contribution of the African Union and Tu\u0308rkiye in these domains.<\/p>\n

For More News And Analysis About Eritrea<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eritrea. INSTANBUL THE Fourth Africa-Tu\u0308rkiye Economic and Business Forum (TABEF) has called for augmentation of seamless operation of the African Continental Free Trade Area (AfCFTA) to guarantee and promote increased intra-African trade. Under the AfCFTA mechanism, a market of 1.3 billion people and a value of 3.4 trillion dollars is expected to be […]<\/p>\n","protected":false},"author":84,"featured_media":22677,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[242,243,233],"class_list":["post-22678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-eritrea","tag-eritrea"],"yoast_head":"\nAfrica-T\u00fcrkiye link to boost trade - Eritrea<\/title>\n<meta name=\"description\" content=\"INSTANBUL THE Fourth Africa-Tu\u0308rkiye Economic and Business Forum (TABEF) has called for augmentation of seamless ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/africa-turkiye-link-to-boost-trade\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Africa-T\u00fcrkiye link to boost trade\" \/>\n<meta property=\"og:description\" content=\"INSTANBUL THE Fourth Africa-Tu\u0308rkiye Economic and Business Forum (TABEF) has called for augmentation of seamless ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/africa-turkiye-link-to-boost-trade\" \/>\n<meta property=\"og:site_name\" content=\"Eritrea\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-14T18:56:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-14T20:29:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2023\/10\/sm_1697302439.401281.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1204\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/africa-turkiye-link-to-boost-trade#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/africa-turkiye-link-to-boost-trade\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Africa-T\u00fcrkiye link to boost trade\",\"datePublished\":\"2023-10-14T18:56:12+00:00\",\"dateModified\":\"2023-10-14T20:29:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/africa-turkiye-link-to-boost-trade\"},\"wordCount\":627,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/africa-turkiye-link-to-boost-trade#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2023\/10\/sm_1697302439.401281.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eritrea\",\"Eritrea\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eritrea\/all-news\/africa-turkiye-link-to-boost-trade#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/africa-turkiye-link-to-boost-trade\",\"url\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/africa-turkiye-link-to-boost-trade\",\"name\":\"Africa-T\u00fcrkiye link to boost trade - 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