South Africa calls on Türkiye to strengthen trade, investment ties

South African Trade Minister Ebrahim Patel has invited Turkish investors to invest in South Africa, home to the continent’s 10 largest companies

South Africa’s Trade Minister Ebrahim Patel called for developing investment and trade relations with Turkish businessmen seeking to expand to Africa.

Speaking to Anadolu, Patel stressed the importance of commercial relations between the two countries.

A member of the BRICS countries – Brazil, Russia, India, and China – and the G-20, South Africa is among the leading economies in Africa. Its robust financial infrastructure and advanced mining sector make it a leader in these fields.

South Africa is home to the continent’s 10 largest companies.

‘Right address’ for large Turkish companies

Patel underlined that Türkiye is a vital economy located in a very strategic region of the world, with a large population, and that South Africa is the industrial center of sub-Saharan Africa and the industrial base of the continent.

This situation makes the two countries strong partners, he said. He highlighted that Turkish companies already have serious investments and production centers in South Africa.

Patel emphasized that Türkiye has a tremendous industrial capacity and that South Africa is the correct address for Turkish companies seeking to expand worldwide.

He said the African continent is growing rapidly in terms of its population, which will double by 2050 and surpass those of China and India. He noted the significance for small investors to come early to South Africa to be part of this growth, alluding to Turkish companies.

Tips for doing business in South Africa

Abubekir Salim, head of the Türkiye-South Africa Business Council of the Turkish Foreign Economic Relations Board, said South Africa always welcomes Türkiye as their second home.

Salim said South Africa is a country where doing business is not difficult, but it takes a certain amount of time. Results are not obtained very quickly, but when they are received, continuity is formed.

The bilateral trade figures are below where they should be, he added.

South Africa’s door wide open for Turks’

South African businessperson Kashif Wicomb underscored the solid cultural relations between Türkiye and South Africa, noting that, especially as South African Muslims, they sympathize with Türkiye.

Emphasizing that South Africa’s door is wide open to Turks, Wicomb expressed his desire to see more Turkish products in South Africa and more in Türkiye.

Turkish businessman Nejdet Tiskaoglu said they are happy to employ over 200 people with their investments in South Africa, where they have been operating for about seven years and aim to expand their investments here.

He stressed that the slow progress of bureaucratic processes is one of the main difficulties encountered in investment in the country.

Citing gaps in incentives, Tiskaoglu said: “South Africa now needs to pave the way for foreign investors so that when they come, they can bring others.”

Source: AA