The Deputy Minister of Trade and Industry, Ms Elizabeth Thabethe says South Africa and Turkey need to form an alliance and leverage off the other’s strengths so that they can support industries and exploit opportunities in their respective regions.
Deputy Minister Thabethe was addressing a business seminar comprising of South African and Turkish business people on the occasion of the Outward Selling and Investment Mission to Turkey in Istanbul yesterday.
Similarities between our countries are striking. As emerging economies we both play a dominant role in our respective regions. The growth of our countries are following the same trajectory and if I compare our Gross Domestic Product (GDP) and GDP per capita, both our countries are affected by the same challenges.
"It is therefore of key importance that we combine our strengths in order to increase the less than impressive trade volumes that currently exist between our countries," said Deputy Minister Thabethe.
Thabethe added that South Africa is a key market in sub-Saharan Africa and a great strategic partner not only from a region-wide perspective but also for global issues.
“Our economies are by and large not rivals but rather complementary. In line with our Industrial Policy Action Plan, Turkish companies will benefit from the need for South Africa to process its wealth of minerals into value-added products to be utilised domestically or to be exported,” said Thabethe.
The South African Ambassador to Turkey, Mr Mazwi Khumalo expressed excitement at the prospect of key joint ventures that were in line to emerge from the business engagements.
I hope this event is a reflection of our growth since 2012. It is clear that the cordial economic relation between ourselves is well worth developing further and your presence here today is indicative of your eagerness to grow this relation further.
The key part of our message to you is a sense of partnership, and that the idea of working together is key to this partnership. Some of you may not find what you are looking for here today but I can encourage everyone that Turkish and South African markets are dynamic and that there is more than one partner to trade with in both of our economies, he said.
Deputy Minister Thabethe’s programme of the day also included of bilateral meetings with the DEIK Turkey-Africa Business Council and the Textiles Exporters Union.
The DEIK Turkey-Africa Business Council Chairperson, Mr Tamer Taskin said that Turkey had invested more than USD5 billion in South Africa.
“Our economy is the 17th largest in the world. We have one of the most favourable conditions to setting-up business operations in. Our prices are highly competitive and our services sector is our biggest selling point. All these conditions are for your benefit and I urge all of you to utilise our services,” emphasised Taskin.
In conclusion, Thabethe added that despite the geographical distance, there existed a strong political will to further deepen socio-political ties between South Africa and Turkey.
“I hope that this will serve as a platform for business-to-business engagements to flourish,” she said.
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