Caglayan calls on Turkish entrepreneurs to expand into new markets, including Africa

State Minister for Foreign Trade Zafer Caglayan yesterday called on Turkish businesspeople to expand their operations into more markets in order to reach Turkey 's export target of $500 billion by 2023. Caglayan is currently in Johannesburg , South Africa , with a delegation of more than 100 businessmen, for trade talks with South African officials and to attend the Turkish-South African Business Forum, co-organized by the Undersecretariat of Foreign Trade (DTM), the Turkish Exporters' Assembly (TIM), the Turkish Confederation of Businessmen and Industrialists (TUSKON), and the Istanbul Exporter Unions (IIB). In opening remarks to the event, Caglayan said that to promote Turkish businesspeople exploring new markets, his ministry is planning to have talks with exporting committees, adding that measures will be taken this month to encourage entrepreneurs. Telling entrepreneurs the advantages of expanding into South Africa , Caglayan said its markets offer lucrative opportunities for the Turkish vehicle industry. On the work of TUSKON in South Africa , he said the confederation acts as a bridge between Turkey and African countries, enhancing Turkey 's trade ties with those countries. Turkey 's exports to South Africa rose 90 percent from $121.5 million in 2003 to $1.2 billion last year. Along with coal, automotive products, chromium and stainless steel, Turkey mostly imports gold from South Africa, which is also rich in diamonds, iron, manganese, nickel, phosphate, tin, uranium, copper, vanadium and salt. Turkey 's main exports to South Africa are automobiles, paper products and tractors. Turkish investments in South Africa have reached $60 million. Caglayan also said Turkey wants to sign a free trade agreement with South Africa as soon as possible. Stating that Turkey 's trade volume with African countries has risen continually since the 2003 announcement of its Africa strategy, Caglayan said Turkey wants to improve its trade with African countries based on a win-win approach.