Turkey, African countries sign trade pacts in Istanbul

By Gokhan Ergocun and Tuba Sahin

ISTANBUL (AA) - A Turkish-African business meeting in Istanbul bore fruit Wednesday in the form of three new pacts with both private and public concerns.

Zimbabwe, Senegal, and the African Union all signed deals with parties in Turkey during the 2nd Turkey-Africa Economy and Business Forum in Turkey's economic hub.

The first agreement -- a memorandum of understanding (MoU) -- was signed by Senegal’s Mines and Geology Ministry and Turkey’s Tosyali Holding for the company to invest in iron and steel in the West African country.

Another MoU was signed between Turkey's Trade Ministry and the African Union Commission for collaboration on trade and investment.

The last trade cooperation pact was signed by the Turkish and Zimbabwean governments.

The two-day forum, which started on Wednesday in Istanbul, is bringing together 3,000 African and Turkish businesspeople.

The forum was organized by Turkey’s Foreign Economic Relations Board in coordination with Turkey’s Trade Ministry and the African Union.