Adnan Aslan, chairman of the Turkish Steel Exporters’ Association (CIB), has stated during his visit to Baku which aims to increase the trade volume between the two countries that Turkey is also focusing on exports to Africa and South America, according to local Turkish media reports.
Mr. Aslan pointed out that the Turkish steel industry aims to increase its export value to $22.5 billion in 2025, especially with Africa and South America becoming focal points, and that they believe they will increase their presence in these regions with B2B committees next year.
Moreover, the CIB official underlined that Turkish companies have an advantage against China in Africa, since the banking system in the region is less developed. “Chinese traders can make sales to Africa only if they have open accounts. However, Turkish traders are able to source the product from the manufacturer by paying with or opening a letter of credit. After that, they will ship the product to the region. They have companies, employees and warehouses there. Also, they are making sales by waiting for 30, 60 or 90 days or by taking a risk. It is impossible for China to make a direct sale,” he stated.