Davies to participate in Business Forum

(Image: GCIS)

Davies, together with Turkish Minister of Economy, Zafer Caglayan, is scheduled to address the South Africa-Turkish Business Forum to be held in Istanbul. The forum will include break-away sessions and business-to-business meetings between the two nations.

Davies is expected to co-chair the second session of the Turkey-South Africa Joint Economic Commission (JEC) on Thursday. The JEC promotes trade, investment and economic co-operation between the two countries.

"Currently economic relations between the two countries are governed by the South Africa - Turkey JEC," said the department on Tuesday.

The commission was established in accordance with Article 11 of the "Trade and Economic Cooperation Agreement between the Government of the Republic of South Africa and the Government of the Republic of Turkey".

"At the end of the JEC meeting, a communiqué will be signed which will outline the plan on further expanding bilateral trade and economic cooperation between South Africa and Turkey," said the dti.

South Africa's traditional exports to Turkey are primarily sourced from the mining sector and consist of mineral products, as well as base metals and articles of base contributing 56% and 13% respectively towards total exports.

Turkey's major exports into South Africa include machinery and mechanical appliances, electrical equipment (25% of total imports) and vehicle, aircraft and associated products.