Turkey calls on African nations to trade in local currencies to mitigate volatility

Organized by the Foreign Economic Relations Board (DEİK) in coordination with Turkey’s Trade Ministry and the African Union, the 2nd Turkey-Africa Economy and Business Forum kicked off yesterday in Istanbul with the participation of President Recep Tayyip Erdoğan, Turkish and African businesspeople and ministers and politicians. The first day of the event saw significant opportunities for Turkey and African nations with new trade deals, while at the same time highlighting common steps to be taken to boost trade by ensuring limited exposure to currency fluctuations that have jeopardized many emerging economies this year.

President Erdoğan, in his address to African politicians and businesspeople, emphatically stated Turkey’s efforts to exempt the economy from the risks of the high currency…

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