6th Türkiye-Africa Business and Economic Forum to be held in 2027

​​​​​​​By Anadolu staff

ISTANBUL (AA) - The sixth Türkiye-Africa Business and Economic Forum (TABEF) will be held in 2027, according to a declaration Thursday at the current edition.

The declaration said the forum was held with the aim of “deepening strategic economic cooperation between Türkiye and Africa and advancing sustainable development through a resilient, mutually beneficial partnership,” adding that the event, held amid current global economic uncertainty, underscored the importance of building resilient, inclusive and transformative economic partnerships between Türkiye and Africa.

Türkiye's approach to Africa is built on “fraternity, justice and equality, as well as mutual respect and a win-win principle,” Turkish Trade Minister Omer Bolat said at a TABEF news conference, adding that the forum is centered on navigating “global economic uncertainty together, join forces against global challenges, and strengthen the Türkiye-Africa partnership.”

He said the two-day forum, running through Friday, has brought together 28 ministers from 27 African countries, and four regional organizations, along with numerous deputy ministers, senior representatives and nearly 4,000 African and Turkish businesspeople.

In addition to sessions, Bolat explained, panels, exhibitions and business meetings were held in various fields, and that TABEF aims to enhance trade and economic relations between Türkiye and Africa, and contribute to Africa’s development.

"In trade, investments, contracting, the services sector, transportation and energy, Türkiye-Africa relations have made extraordinary progress. While Türkiye's foreign trade with Africa was $5.4 billion in 2003, it rose to $37 billion last year. We estimate it will reach $40 billion this year,” he said.

"With a population exceeding 1.5 billion, Africa is expected to account for one-quarter of the world’s population by 2050. The continent’s abundant resources, domestic markets and young population position it as a key driver of future global economic growth," he added.

Francisca Tatchouop Belobe, the African Union’s (AU) commissioner for economic development, tourism, trade, industry and mining, said the forum, held amid a shifting global landscape, is crucial as the global economy faces severe stress from inflation, disrupted supply chains, climate shocks and rising geopolitical tensions, underscoring the need for more resilient partnerships.

"In this regard, Türkiye and Africa are not starting from zero. We are building on a strong and evolving foundation," she said.

She said the forum seeks to build on the progress in the previous four TABEF meetings and achieve advances.

"We want to boost direct foreign investment from Türkiye to Africa," noted Belobe.