Turkey to explore investment opportunities in EAC

A team of leading businessmen and investors from Turkey will visit the East Africa Community (EAC) to explore investment opportunities within the region at the EAC-Turkey Business Forum to be held in the Tanzanian capital of Dar es Salaam.

A team of leading businessmen and investors from Turkey will visit the East Africa Community (EAC) to explore investment opportunities within the region at the EAC-Turkey Business Forum to be held in the Tanzanian capital of Dar es Salaam.

Scheduled for September 28 and 30, this year the forum comes at a time when Turkey is increasingly gaining interest in the East African Community.

“The EAC-Turkish Business Forum hopes to establish solid and strategic partnerships between turkey and EAC private sector,” said Agatha Nderitu the Executive Director of East African Business Council (EABC) in a press statement yesterday.  

Turkey and the EAC are preparing to start negotiations for a Free Trade Agreement and a Trade and Investment Framework Agreement in September this year.

Organized by the EABC in partnership with Embassy of the Republic of Turkey in Tanzania, the business forum will be held under the theme “Connect to East Africa: the heart of business opportunities.”

“It will encourage Turkish businessmen and investors to explore possibilities of investments in the EAC countries. A target figure of 15 joint venture partnerships will be the key result of the Forum.” Nderitu observed.

The Forum which will also run an international exhibition is expected to attract 300 participants both from EAC and Turkey drawn from specific sectors such as textiles and clothing and agriculture – Agro processing.

It will also include construction –Real Estate Development; Infrastructure; Mining and Natural Resources; and Tourism.

“EAC and the Government of Turkey have surveyed the possibilities of encouraging joint partnerships for businesses in East Africa which include a potential to further increase and diversify commercial contacts and cooperation in various sectors,” the statement from EABC reads in part.  

According to EABC, Turkey has also shown interest in EAC through the establishment of the Turkish Embassy in Dar es Salaam in May last year and the establishment of the Turkish Embassy in Kampala in March this year.

“All these developments reflect the momentum gained in the EAC-Turkish relations and that the Republic of Turkey supports the successful integration process of the EAC countries.”EABC said.

In addition, in February last year the Turkish president Abdullah Gul, made an official visit to EAC partner states of to Kenya and Tanzania. 

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