ACCRA, Ghana and ABIDJAN, Ivory Coast, June 14, 2019 /PRNewswire/ -- The Uludağ Automotive Industry Exporters' Association (OİB), the only organization operating in the automotive industry exports to represent Turkey, is organizing a sectoral trade mission on June 16-22 to Cote d'Ivoire and Ghana, two of South Africa's strongest economies. The automotive industry mission, which will be participated by 16 company representatives from 13 Turkish companies and DEİK Turkey – Africa Business Council Coordinating Chairman Tamer Taşkın, is expected to foster trade relations.
As part of the program, which includes bilateral business meetings between Cote d'Ivoire and Ghana's automotive importer, wholesaler and distributor companies and Turkish companies to boost exports mutually, visits to the market, wholesalers and facilities will also be organized.
Turkish companies to introduce their latest products
During the visit to be organized under the leadership of OIB, Ivorian and Ghanaian companies, which import mainly from China, USA, Japan, Australia, Taiwan, India and Indonesia, will have the chance to obtain detailed information about the latest products and services offered by Turkish automotive companies. In this context, Turkish companies will present a wide array of products and services such as batteries, solar panels, mineral oils, engine gaskets, brake linings, shock absorbers, suspension bellows, electrical and mechanical components, compressors, spare parts for trucks to African companies.
Turkey is a strong candidate for Cote d'Ivoire's soon-to-be-renewed vehicle fleet
Cote d'Ivoire, which maintains a stable economy on the African continent, boasts an annual import volume of US$ 700 million, but is not involved in automotive manufacturing. The country's main import items are passenger cars and motor vehicles for the transport of goods. The country, which has a fleet of approximately 1 million vehicles, aims to renew 50,000 of its vehicles in the next five years and to make an investment of approximately EUR 225 million for the project every year.
Turkey's automotive exports to the Côte d'Ivoire, which stood at US$ 4.5 million in 2014, jumped by 78 percent year-over-year to US$10.2 million in 2018. The supply industry takes the lion's share in Turkey's automotive exports to Côte d'Ivoire with US$ 8.2 million. The main industry's share in Turkey's automotive exports is US$ 2 million.
Trade is expected to enjoy a boost with the signing of an FTA between Ghana and Turkey
Ghana, one of the leading economies with a population nearing 30 million and a GDP of US$ 43 billion, has a vehicle park amounting to approximately 1 million units. Passenger cars dominate its annual imports of about US$ 2 billion.
While Turkey’s automotive exports to Ghana were at US$ 14 million in 2014, this figure stood at US$ 13.2 million in 2018, of which the supply industry had the largest share. In the last two years, Turkey has raised US$ 3.5 million in its exports of motor vehicles for the transport of goods to Ghana.
SOURCE Turkish Automotive Exporters’ Association