Turkey and South Africa have taken a significant step towards deepening bilateral economic cooperation by signing the Joint Economic and Trade Commission (JETCO) Declaration and Memorandum of Understanding on Free Zone Cooperation. The agreement aims to accelerate trade and investment between the two countries and strengthen their long-standing partnership within the broader framework of Turkish-African cooperation.
According to Turkish Trade Minister Omer Bolat, trade between the two countries has already exceeded $2 billion, and the new declaration is expected to further boost commercial activity in many sectors.
JETCO to stimulate investment and cooperation
Speaking at the Turkey-Africa Business and Economic Forum (TABEF) in Istanbul, organized by the Ministry of Commerce in cooperation with the Foreign Economic Relations Council (DEİK) and the African Union, Bolat announced that the first JETCO meeting will take place in South Africa in early 2026.
The meeting will be accompanied by a large Turkish business delegation representing investors, contractors and exporters seeking new partnerships in Africa's industrial and infrastructure sectors.
Bolat stressed that Turkey is seen as a reliable and stable partner for Africa, and emphasized that relations with South Africa are developing in political, economic, trade, industrial, energy and transport sectors within the framework of Turkey's African Strategy
