Source: President of South Africa –
Ministers from South Africa and Türkiye;
Minister of Trade of the Republic of Türkiye, Dr. Ömer Bolat;
Chairperson and President of DEİK, Mr Abubekir Salim and Mr Nail Olpak;
Esteemed business leaders;
Distinguished guests;
Ladies and gentlemen,
It is a great pleasure to join you today at this gathering that reflects our shared determination to deepen trade, strengthen investment ties, and build lasting partnerships.
Let me begin by thanking our hosts, the Foreign Economic Relations Board of Türkiye, DEİK, for their warm hospitality and for their continued efforts to bring our two business communities together. The South Africa – Türkiye Business Council under DEİK’s leadership has become an important platform for dialogue, collaboration, and the creation of new opportunities.
This Forum comes at an important moment. Both our countries are redefining our place in a rapidly changing global economy, one shaped by new trade patterns, climate transitions, and shifts in regional value chains.
These global challenges are not without opportunity. They give emerging economies like ours the chance to lead differently, to lead with innovation, resilience, and partnership at the centre.
South Africa and Türkiye are natural partners. Both are strong industrial players in our regions, with diverse economies and entrepreneurial energy. We share a belief in the power of innovation, manufacturing, and trade to drive inclusive growth.
Earlier this week, I had the honour of co-chairing the inaugural South Africa – Türkiye Bi-National Commission in Ankara. It was a historic milestone, elevating our cooperation to a new and more strategic level.
Our discussions were practical and focused on implementation, moving beyond dialogue to real action.
One key outcome was the signing of a Memorandum of Understanding on cooperation in the field of Free Zones, otherwise known in South Africa as Special Economic Zones.
This follows a benchmarking study by South African officials who visited Türkiye to learn from its successful zone models. Through this agreement, we aim to strengthen our own Special Economic Zones, attract more investment, and develop joint export pipelines between our two countries.
Over the past few days, I also met with leading Turkish companies in sectors such as agriculture, energy, defence, and electronics. Our engagements also included South African firms already partnering with Turkish businesses, and I was pleased to see their optimism and confidence in South Africa as a preferred investment destination.
A great example of this partnership is Arçelik — a company that has become a household name in South Africa through its ownership of Defy. Since acquiring Defy in 2011, Arçelik has built one of the strongest models of Türkiye’s industrial collaboration on the African continent.
Today, they employ more than 2,700 South Africans across major manufacturing facilities, making Defy the largest producer of household appliances in sub-Saharan Africa.
Beyond creating jobs, Arçelik has invested in developing local skills, promoting research, and leading green manufacturing. Its success shows the confidence Türkiye has in South Africa’s capacity as a gateway to the African market and as a hub for innovation. We are proud of this partnership, and we want to see many more like it.
Ladies and gentlemen,
South Africa’s economy has shown remarkable resilience over the past year. GDP growth is projected at 1.6 per cent for 2025, supported by stronger manufacturing output, better logistics, and greater energy stability.
Exports grew by nearly 5 per cent in 2024, driven by higher-value products in automotive, mineral processing, and agriculture. Business confidence has steadily improved, reflecting investor optimism in our economic reforms. The South African Chamber of Commerce and Industry’s Business Confidence Index has shown steady recovery, averaging 115 points in mid-2025, reflecting optimism about our economic reforms and investor confidence.
Our Energy Action Plan continues to attract investment in renewable energy, battery storage, and green hydrogen; all these areas offer immense opportunities for Turkish collaboration and co-manufacturing.
Looking ahead, we want to deepen this partnership not only through trade but through shared industrial innovation, technology, and skills transfer and development.
Türkiye’s expertise in advanced manufacturing, combined with South Africa’s infrastructure and young, skilled workforce, creates an ideal foundation for cooperation in the Fourth Industrial Revolution.
This collaboration is particularly vital as South Africa works to address the structural challenges of unemployment, poverty, and inequality, while laying the foundation for sustainable and inclusive growth.
We seek to position our nation as a fertile business environment and first mover in a rapidly evolving multipolar global economy; moreover, an Africa that is equal, capable, and competitive. Our partnership with Türkiye is therefore not only economic, but also developmental, empowering our people, strengthening our industries, and contributing to a shared future of prosperity and justice.
While bilateral trade between our countries reached approximately two billion US dollars in 2024, we know we can do much more. Our goal is to diversify and balance our trade relationship. At present, South Africa exports mostly raw minerals, while Türkiye exports mostly finished products. We want to change that dynamic, to grow both sides through value-added production and joint ventures.
Our partnership will be guided by three pillars: diversification, decarbonisation, and industrial collaboration.
Through this approach, we aim to expand South African exports of manufactured and processed goods, including automotive products, mining equipment, agro-processed foods, and pharmaceuticals, while encouraging greater Turkish investment in renewable energy, defence, textiles, ICT, and pharmaceuticals.
We also recognise the need to address trade barriers such as tariffs and standards to unlock the full potential of our partnership.
Currently, Turkish investments in South Africa total around 32 million US dollars, concentrated in textiles, food, and appliances. We welcome this, and we are ready to support further expansion.
Likewise, South African investments in Türkiye have grown from 217 million US dollars in 2022 to 274 million in 2023. This growth shows our confidence in one another’s markets and our shared ambition to build sustainable, innovation-driven economies.
Our Government is working hard to make South Africa an even easier and more attractive place to do business. We are simplifying regulations, strengthening industrial incentives, and expanding our Special Economic Zones.
Importantly, the African Continental Free Trade Area, the largest free trade area in the world, gives Turkish investors access to a market of 1.4 billion people. By investing in South Africa, you gain a foothold not just in our country, but across the entire continent.
The opportunities are vast, from renewable energy and automotive manufacturing to defence, agriculture, infrastructure, pharmaceuticals, and digital innovation.
Our mineral wealth also offers attractive investment opportunities. South Africa has abundant resources in battery minerals, energy minerals, and materials vital for the green and digital economy. The Department of Trade, Industry and Competition has identified several investment-ready projects in these areas, and I encourage you to engage with our officials to explore them further.
In energy, South Africa’s growing demand opens new avenues for investment in generation, transmission, distribution, and in repurposing old coal plants for cleaner power. Opportunities in wind and solar energy, and in component manufacturing for these technologies, are expanding rapidly.
We are also prioritising infrastructure development in transport, logistics, water, and energy to improve capacity and efficiency. We invite Turkish firms to partner with South African companies to localise production and build industrial capability for the continent.
To make investment easier, we have launched an Energy One Stop Shop, managed by InvestSA, which streamlines approval processes and helps power-generating companies navigate regulatory requirements quickly and efficiently.
There are also growing opportunities in the automotive and mobility sectors. We invite Turkish companies to consider setting up local operations in South Africa, bringing technical expertise and innovation that can be mutually beneficial.
South Africa’s rich manganese reserves and existing battery industry make our country an ideal destination for lithium-ion battery assembly and manufacturing.
There are also exciting prospects in semiconductors, glass, and composite materials, all essential components for modern industry. We have the CEO of the Components Manufacturing Association also here with us on this visit, who can outline in detail the opportunities available.
In healthcare, Türkiye’s strong pharmaceutical and medical device industries can play a key role in helping South Africa build a more resilient and localised health system. We see particular promise in partnerships around vaccines, diagnostics, and mRNA research and development.
We also see great potential in the defence and agro-processing sectors. South African defence companies will participate in the Konya Defence Industry Fair in November, showcasing their capabilities and exploring integration into Turkish supply chains.
In agriculture, we are eager to see more South African products on Turkish shelves and Turkish technology supporting African farming.
To help deepen this cooperation, I extend a warm invitation for Turkish companies to attend our flagship investment events — including the Mining Indaba in February, Africa Energy Week in March, ENLIT Africa in May, Africa Health, and the Africa Aerospace and Defence Exhibition in 2026. These platforms will help you understand South Africa’s investment landscape and meet potential local partners.
Ladies and gentlemen,
This forum should mark the beginning of a new phase of practical cooperation, one that includes trade missions, joint ventures, and stronger collaboration between our chambers of commerce and development finance institutions.
We are encouraged by the growing role of the private sector in driving this partnership. Turkish and South African firms are already working together in renewable energy, automotive components, textiles, and construction.
To build on this momentum, we have brought a strong South African business delegation representing key sectors including automotive, healthcare, defence, agro-processing, ICT, mining, and finance.
Our task now is to focus not only on the volume of trade, but on its quality — ensuring that every partnership creates jobs, builds skills, and strengthens our industrial base.
South Africa views Türkiye as a strategic partner, a bridge between Europe, Asia, and Africa, a nation that shares our commitment to industrial development, innovation, and inclusive prosperity.
Let this forum serve as a catalyst, a platform to unlock new possibilities in trade, investment, and technology cooperation.
The future belongs to those who build together, who look beyond borders, and who transform shared aspirations into shared prosperity.
Together, South Africa and Türkiye can advance a new development compact, one that is green, digital, and inclusive, uplifting our people and strengthening the bonds of our shared humanity.
Thank you.
