…As they launch first Turkish Product Fair in Ghana 

images (6)The Istanbul Chamber of Commerce (ICOC) has officailly announced the holding of its first Turkish Products Fair in Ghana with a specific aim at boosting trade relations between the two countries—Ghana and Turkey.

This move is actually not the first dealings Ghana has made with the Turkish community. Over the last few years, the Nation has witnessed countless business opportunities transpiring between these two countries.

The Istanbul Chamber of Commerce (ICOC) which was founded in 1882 is the third chamber in the world and has been organizing national participations to international fairs across the world since 1999.

Addressing the media in Accra, Cagri Oluc from the Istanbul Chamber of Commerce indicated that ICOC has been working in order to develop and strengthen social and commercial relations with ECOWAS countries of Africa.

According to him, leading Turkish companies with over 500 selected products will be awaiting Ghanaian professionals in their stands at the fair, revealing that products from food to industry, electronics, cosmetics, gift items, construction, kitchen materials, textile, machinery, and home appliances among others will be on display at the fair.

“ICOC’s aim is not to boost Turkish exports to Ghana but also boost Ghanaian imports to turkey by a win-and-win philosophy,” he said.

For her part, the Turkish Ambassador to Ghana, H. E. Nesrin Bayazit, indicated that the country was poised to increasing its trade volumes to Ghana to US$1 billion by the close of 2016.

513197354According to her, Turkey’s overseas development aid was 3.5 billion dollars in 2015, with Africa alone receiving US$385, an indication of how development co-operation was an integral part of Turkey’s efforts to boost the economies of Africa.

H.E. Nesrin Bayazit said Turkey and Ghana had established their bilateral ties in 1958 and since then, both countries have entered into agreements and partnerships that inured to the benefits of both countries.

She indicated that Turkish investments in Ghana have increased to US$850,000 and US$483 million in the construction sector of Ghana, citing the ongoing expansion works at the Kotoka International Airport, the Power Barge which is expected to generate enough electricity to end the erratic power supply problems, as some major projects in Ghana which are being handled by Turkish companies.

She also reiterated that trade volume between Ghana and Turkey has increased over the past decade, following deepened bilateral ties between the two countries.

Turkish exports into Ghana increased from US$3million in 2002 to US$179million in 2013; while the European country’s imports from Ghana increased from US$36million in 2002 to US$210 million in 2013.

According to her, Turkish President, Mr. Recep Tayyip Erdogan, visited Ghana in March was to affirm his country’s commitment to investing in Ghana which span construction, power, and hospitality industries.

To her, there are great opportunities in Ghana, stressing that there was the need for Turkish businesses to invest in Ghana so as to keep the relationship between the two countries alive.

She also advised investors against being skeptical about doing business in Turkey since the situation in the country has normalized after the failed coup attempt on the democratically elected government.

According to Frederick Adu Amoako, a member of Ghana Chamber of Commerce the Turkish Product Fair which will be held in Ghana at the Movenpick Ambassador Hotel from August 24 to 27, will afford local SMEs and big enterprises as well, establish more business partnerships that will at the end enhance and boost their business fortunes.

It is of his believe that, this trade between the two countries will continue to grow since the two countries have signed several agreements towards enhancing their cooperation to the mutual benefits of all.