The bilateral trade volume with the Republic of South Africa, Turkey's largest trading partner in Sub-Saharan Africa, reached a record level in 2022, exceeding 3 billion dollars.
Haber Giriş Tarihi: 18.03.2023 10:47
Haber Güncellenme Tarihi: 18.03.2023 10:47
Kaynak:
Haber Merkezi
https://www.tourismjournal.com.tr/
Johannesburg
South Africa, which is in the group of BRICS countries along with Brazil, Russia, India and China and is a member of the G-20, is among the leading economies of Africa with its strong finance and mining sector.
Standing out as the strongest regional actor in the south of the continent both economically and politically, South Africa with a population of 60 million is also the gateway to the markets of regional countries such as Zimbabwe, Zambia, Botswana, Namibia, Mozambique, Lesotho and Esvatini.
Bilateral trade volume increased by 60 percent in 2022
Turkish Embassy in Pretoria Commercial Counselors İlker Eralp and Bengü Okur Erdoğan discussed the record-breaking bilateral trade relations between Turkey and South Africa and the trade and investment issues in South Africa to the Anadolu Agency (AA).
Eralp stated that South Africa, which made 93.5 billion dollars of imports against 123.8 billion dollars of exports in 2021 and has a national income of 426 billion dollars, is an economy with a permanent foreign trade surplus even though it has a lower growth performance than its peers.
Noting that the bilateral trade volume between Turkey and South Africa has been between $1.3 billion and $2.4 billion in the last 10 years, Eralp said, "The trade volume of $2.05 billion reached at the end of 2021 has been exceeded by 60 percent with $3.29 billion. In line with these data, we can state that by the end of 2022, our bilateral trade has reached a record level and exceeded $3 billion for the first time in history."
Eralp stated that petroleum products and other mineral oils, automotive parts and accessories, white goods, carpet and home textile products, dry food, rubber and plastic products came to the fore in exports from Turkey to South Africa in 2022. He said that most precious metals such as gold and platinum, centrifuges, passenger cars, iron and steel products, and other mines such as chrome, hard coal and aluminum are imported.
Trade surplus for the first time in 2022
Stating that the trade deficit, which was regularly in favor of South Africa in the past, turned in favor of Turkey for the first time in 2022, Eralp said, "Our trade deficit, which was 331 million dollars as of the end of 2021, seems to have turned in our favor by the end of 2022. We can explain the trade surplus of millions of dollars with the increase of our imports by 32 percent, despite the increase in our exports by 98 percent in the same period of the year.
Pointing out that South Africa rose to 35th place in the list of countries to which Turkey exports the most, by rising 20 places in one year, Eralp noted that there was no significant deviation in exports and imports on the basis of products.
Eralp said that South Africa, which is Turkey's 5th largest trading partner in Africa after Egypt, Morocco, Libya and Algeria, is Turkey's largest partner in the Sub-Saharan region.
Stating that South Africa is the most developed country of the continent in the banking and finance sector, Eralp said, "5 of the 10 largest banks in the region are South African banks, and the South African Standard Bank is the largest bank of both the continent and the country."
Market entry advantages for Turkish exporters
Bengü Okur Erdoğan pointed out that South Africa is included in the 24 "target countries" and 18 "far countries" lists of the Ministry of Commerce and said, "Since it is among the 18 countries within the scope of our Ministry's Far Countries Strategy, the current support score for South Africa is 25% increased compared to other countries."
Stating that the incentives offered by the Ministry in many areas, from fair support to promotion support, are of great importance especially in the market entry phase, Erdoğan stated that the country's being the continent's fair center also provides great convenience in entering the market.
Erdogan recommended that exporters entering the South African market should follow the fairs in the mining, automotive, energy, health and medical, packaging and packaging, food, halal food, construction and building materials, tourism and film and TV series sectors.
Noting that the positive perception towards the quality of Turkish products in South Africa also provides an important advantage, Erdoğan stated that Turkish brands have an extremely good image, especially in the field of textiles.
The country's challenges for everyone
Erdogan stated that South Africa's geographical distance and special problems, especially security issues, are among the difficulties related to South Africa.
Expressing that in the country where more than 27 thousand people lost their lives as a result of murder last year, attention should be paid to the security issue, and she suggested contacting the Counseling Office in Pretoria in case of suspicion about fraud.
Erdoğan noted that the localization policies of the South African government in automotive, textile, iron-steel, furniture, poultry, sugar and similar sectors and the practices aimed at restricting imports in these sectors create disadvantages for exporters.
Stating that widespread power cuts, strikes, repetitive violence and looting, lack of qualified labor force and difficulties in obtaining a work visa are among the other problems in South Africa, Erdoğan said that in the country where 92 percent of exports are carried out by sea, it takes 35-40 times to reach containers.
Sectoral opportunities
Noting that various models of motor vehicle manufacturers such as Mercedes-Benz, Volkswagen, Ford, BMW, Nissan, Toyota and Isuzu are produced in South Africa, Erdoğan stated that the automotive, automotive spare parts and accessories sectors in the country offer significant opportunities.
Pointing out that the heavy-duty vehicle market is also highly developed, Erdoğan stated that there are also important opportunities for companies operating in the field of renewable energy due to the ongoing electricity crisis in the country. Because Turkish films and TV series are very popular in the country, Erdoğan said that her productions, which cover historical issues as well as the modern period, are watched with interest in South Africa and even translated into Afrikaans in local languages.
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Turkey-South Africa trade broke a record
The bilateral trade volume with the Republic of South Africa, Turkey's largest trading partner in Sub-Saharan Africa, reached a record level in 2022, exceeding 3 billion dollars.
Johannesburg
South Africa, which is in the group of BRICS countries along with Brazil, Russia, India and China and is a member of the G-20, is among the leading economies of Africa with its strong finance and mining sector.
Standing out as the strongest regional actor in the south of the continent both economically and politically, South Africa with a population of 60 million is also the gateway to the markets of regional countries such as Zimbabwe, Zambia, Botswana, Namibia, Mozambique, Lesotho and Esvatini.
Bilateral trade volume increased by 60 percent in 2022
Turkish Embassy in Pretoria Commercial Counselors İlker Eralp and Bengü Okur Erdoğan discussed the record-breaking bilateral trade relations between Turkey and South Africa and the trade and investment issues in South Africa to the Anadolu Agency (AA).
Eralp stated that South Africa, which made 93.5 billion dollars of imports against 123.8 billion dollars of exports in 2021 and has a national income of 426 billion dollars, is an economy with a permanent foreign trade surplus even though it has a lower growth performance than its peers.
Noting that the bilateral trade volume between Turkey and South Africa has been between $1.3 billion and $2.4 billion in the last 10 years, Eralp said, "The trade volume of $2.05 billion reached at the end of 2021 has been exceeded by 60 percent with $3.29 billion. In line with these data, we can state that by the end of 2022, our bilateral trade has reached a record level and exceeded $3 billion for the first time in history."
Eralp stated that petroleum products and other mineral oils, automotive parts and accessories, white goods, carpet and home textile products, dry food, rubber and plastic products came to the fore in exports from Turkey to South Africa in 2022. He said that most precious metals such as gold and platinum, centrifuges, passenger cars, iron and steel products, and other mines such as chrome, hard coal and aluminum are imported.
Trade surplus for the first time in 2022
Stating that the trade deficit, which was regularly in favor of South Africa in the past, turned in favor of Turkey for the first time in 2022, Eralp said, "Our trade deficit, which was 331 million dollars as of the end of 2021, seems to have turned in our favor by the end of 2022. We can explain the trade surplus of millions of dollars with the increase of our imports by 32 percent, despite the increase in our exports by 98 percent in the same period of the year.
Pointing out that South Africa rose to 35th place in the list of countries to which Turkey exports the most, by rising 20 places in one year, Eralp noted that there was no significant deviation in exports and imports on the basis of products.
Eralp said that South Africa, which is Turkey's 5th largest trading partner in Africa after Egypt, Morocco, Libya and Algeria, is Turkey's largest partner in the Sub-Saharan region.
Stating that South Africa is the most developed country of the continent in the banking and finance sector, Eralp said, "5 of the 10 largest banks in the region are South African banks, and the South African Standard Bank is the largest bank of both the continent and the country."
Market entry advantages for Turkish exporters
Bengü Okur Erdoğan pointed out that South Africa is included in the 24 "target countries" and 18 "far countries" lists of the Ministry of Commerce and said, "Since it is among the 18 countries within the scope of our Ministry's Far Countries Strategy, the current support score for South Africa is 25% increased compared to other countries."
Stating that the incentives offered by the Ministry in many areas, from fair support to promotion support, are of great importance especially in the market entry phase, Erdoğan stated that the country's being the continent's fair center also provides great convenience in entering the market.
Erdogan recommended that exporters entering the South African market should follow the fairs in the mining, automotive, energy, health and medical, packaging and packaging, food, halal food, construction and building materials, tourism and film and TV series sectors.
Noting that the positive perception towards the quality of Turkish products in South Africa also provides an important advantage, Erdoğan stated that Turkish brands have an extremely good image, especially in the field of textiles.
The country's challenges for everyone
Erdogan stated that South Africa's geographical distance and special problems, especially security issues, are among the difficulties related to South Africa.
Expressing that in the country where more than 27 thousand people lost their lives as a result of murder last year, attention should be paid to the security issue, and she suggested contacting the Counseling Office in Pretoria in case of suspicion about fraud.
Erdoğan noted that the localization policies of the South African government in automotive, textile, iron-steel, furniture, poultry, sugar and similar sectors and the practices aimed at restricting imports in these sectors create disadvantages for exporters.
Stating that widespread power cuts, strikes, repetitive violence and looting, lack of qualified labor force and difficulties in obtaining a work visa are among the other problems in South Africa, Erdoğan said that in the country where 92 percent of exports are carried out by sea, it takes 35-40 times to reach containers.
Sectoral opportunities
Noting that various models of motor vehicle manufacturers such as Mercedes-Benz, Volkswagen, Ford, BMW, Nissan, Toyota and Isuzu are produced in South Africa, Erdoğan stated that the automotive, automotive spare parts and accessories sectors in the country offer significant opportunities.
Pointing out that the heavy-duty vehicle market is also highly developed, Erdoğan stated that there are also important opportunities for companies operating in the field of renewable energy due to the ongoing electricity crisis in the country. Because Turkish films and TV series are very popular in the country, Erdoğan said that her productions, which cover historical issues as well as the modern period, are watched with interest in South Africa and even translated into Afrikaans in local languages.
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