Even with its $1.1b investment in Nigeria, the Turkish government has called for increased investments and collaborations with Africa’s biggest economy.
To this end, the Turkish government said it is ready and willing to invest in the nation’s agriculture; energy and power; infrastructural development; health care; aviation; solid minerals; construction; transport; and hospitality sectors, among others.
Speaking at the Nigeria/Turkish economic forum hosted by the Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) in Abuja on Wednesday, the Turkish minister of economy, Mustafa Elitas, asserted that Nigeria is a voice in the economic equation of the Economic Community of West African States and its influence cannot be jettisoned by any serious-minded and business oriented country.
He said with its present population and the projection of becoming the third most populated country around the world in 2050 and currently the largest economy in Africa, Nigeria has the comparative advantage in almost all facets of the economy to advance its potential and ensure prosperity which will in turn advance the fortunes of the people.
Elitas explained that his country cannot match Nigeria with its 180 million population, but it has done well in the area of health care delivery and has therefore found a common ground with the country as its 2016 budget placed healthcare in a very important pedestal.
Elitas said discussions are ongoing on some policies that can aid easy transaction of business between the two economies and more talks will still take place during the visit of the 150 businessmen from Turkey.
He enjoined Nigerian government to facilitate the signing of the trade/economic partnership agreement and optimistic that the double taxation avoidance agreement will be completed soon.
The President of NACCIMA, Dr Bassey Edem said Turkey should consider technology transfers by partnering with their Nigerian counterparts to invest in some specific sectors of the Nigerian economy, most especially at this time that the government is very much committed to the diversification of the economy from crude oil and considering the fact that Nigeria is among the best destinations for global economic prosperity.
His words: ‘’ Nigeria as a country is a mixed economy and emerging market. As a matter of fact, Nigerian economy is the largest in Africa and the 26th in the World, with a GDP of over $520 million, and a population of over 170 million people. “
Records have also shown that Nigeria remains an investment destination in Africa with the certainty of a very good return on investment within a reasonable period of time, after the establishment of a business venture’’.
‘’NACCIMA has no doubt that the trade between our two business communities would further improve tremendously in the identified sectors of mutual interests, as well as new areas of interest to be explored/exploited, through joint venture partnerships that would be established and the present bilateral trade efforts being accelerated by the governments of Nigeria and Turkey on one hand, and the chambers of commerce of our two countries on the other hand through Public-Private Partnership(PPP) arrangements that would be effective and result-oriented’’.