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Potential Prospects of Turkey in Africa

Gorgulu, Mehmet Emre (2010): Potential Prospects of Turkey in Africa. Published in: Turgut Özal International Conference on Economics and Politics – 1, Global Crises and Economics Governance Congress Book , Vol. I, (16 April 2010): pp. 721-734.

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Abstract

As the global crisis surrounds us, Turkey, as a country with huge prospects, needs to establish new political and commercial links with the rest of the world in order to lessen the effects of the global crisis. This can be a way to take the load off Turkey’s shoulders. These links can be found in the continent Africa. As the host of world’s several fastest growing economies, the continent offers new opportunities for Turkey. These opportunities can be utilized as either in the form of Foreign Direct Investment or in the form of tied aids. Both can be really effective for Turkey if well handled. This paper investigates future potential prospects in the continent Africa for Turkey. Investigating each country both in North Africa and Sub-Saharan Africa for the opportunities they present will provide an inside look at the continent and will offer one way to ease the effects of the global crisis for Turkey. For markets being relatively more developed in the continent, using Foreign Direct Investment - as Foreign Direct Investment would generate more benefits for the main investor countries when the level of development in the host country increases - with correct timing would yield considerable profits. On the other hand for the less developed countries in the continent, using tied aids aiming at resources would reap potential benefits for Turkey. In search for potential prospects for Turkey in Africa, one must not forget the fact that; even though these nations have ex-colonial ties with their big brothers in the West - either strong or weak - they are now looking for new relationships too. If it is our job to introduce these new links, so be it.

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