Kenya’s business and government leaders will be trooping to Türkiye mid-October for the fifth edition of the Türkiye-Africa Business and Economic Forum as the country looks to diversify its export market amidst growing uncertainty following the lapse of preferential access to the US market under the Africa Growth Opportunity Act (AGOA).
At the forum themed ‘Leveraging Türkiye-Africa Relations for Mutual Gains’, Kenya will be positioning itself to chart out a path towards evening out the trade balance with Türkiye which in 2024 registered US$23.7 million (Sh3.1 billion) worth of imports from Kenya against US$272.0 million (Sh35.2 billion) worth of exports to Kenya.
Convened by the Ministry of Trade of the Republic of Türkiye and the African Union, the fifth edition of the forum is expected to prioritise bilateral ties in agriculture and food, renewable energy, transport and logistics, as well as textiles.
“The Forum will bring together over 4,000 businesspeople from all African countries and Türkiye, including representatives from African Development Bank (AfDB), Afreximbank, Türk Eximbank, international and regional financial institutions, NGOs, chambers of industry and commerce and entrepreneurs, diplomatic missions in Türkiye, and media organizations both in Türkiye and Africa”, the Ministry of Trade of the Republic of Türkiye says.
Kenya’s top exports to Türkiye are Tropical Fruits which stood at US$8.7 million (Sh1.1 billion) and tea which stood at US$3.9 million (Sh503.4 million) in 2024.
“Türkiye’s trade volume with Africa increased from US$ 5.4 billion in 2003 to US$ 32.8 billion last year. The ultimate target is to reach US$ 50.0 billion and then US$ 75.0 billion. Türkiye aims to strengthen economic relations with African countries with a perspective focused on a win-win principle, contributing to Africa’s integration, economic development, and industrial growth”, the Ministry of Trade of the Republic of Türkiye says.
Türkiye, alongside Thailand, is one of the jurisdictions with which Kenya has initiated and concluded negotiations for but is yet to sign a Double Taxation Agreement, a pointer to the intent by the two governments to boost bilateral ties between Kenya and Türkiye economies.
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