• Ivory Coast-Turkey: 10 trillion CFA francs in investments

Ivory Coast-Turkey: 10 trillion CFA francs in investments

By Issiaka N’ GUESSAN in Abidjan

Turkish economic operators are prospecting in Abidjan. Ankara thus confirms its economic offensive in Ivory Coast.

 

Some 30 Turkish business leaders, members of the Turkish Exporters’ Assembly (TIM), recently visited Abidjan as part of a survey of the Ivorian market. This grouping of 60 associations of Turkish exporters plan to invest 20 billion US dollars in Ivory Coast by 2020.

« Relations between Turkey and Ivory Coast are excellent and our aim is to contribute to the development of the continent by providing the necessary expertise “, said Vice-President Mustafa Cikrikcioglu.

These economic meetings also illustrate the renewed economic attractiveness of the Ivorian market after the successive crises the country has been going through.

Increase in Turkish investment

The strong interest of Turkish private investors illustrates the energy deployed by the Chamber of Commerce and Industry of Ivory Coast (CCI-CI) to attract foreign investment. Parfait Kouassi, vice-president of the Chamber of Commerce and Industry of Ivory Coast (CCI-CI), did not hide his pride. Trade between Ivory Coast and Turkey increased by 18.5% in 2017, or about 428 million US dollars, according to the Chamber of Commerce and Industry of Ivory Coast. According to Parait Kouassi, Ivorian companies also benefit from these exchange rates as Turkey accounts for 13% of Ivorian exports. For its part, Turkey mainly exports its know-how in the public works sector. While Ivorian exports to Ankara mainly concern cotton and cocoa. Finally, both countries intend to step up their cooperation. Abidjan hopes to attract even more Turkish entrepreneurs. According to the authorities, about 100 of them have settled in the country.


By Issiaka N’GUESSAN à Abidjan

 

 

 

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