Turkish Companies Eye Investment in Angola’s Lobito Corridor
The Turkish ambassador to Angola, Ufuk Ekici, expressed keen interest in leveraging the vast mobility infrastructure along the Lobito Corridor for the prosperity of Turkish businesses during a meeting with Vicente Soares, President of the Chamber of Commerce and Industry of Angola (CCIA).
Ekici announced plans to mobilize Turkish companies to establish themselves within the Lobito Corridor in the upcoming year, seeking partnerships between companies from both nations.
He highlighted the corridor as a noteworthy area for potential investment, citing Turkey’s readiness to invest across various sectors of mutual interest.
“We are prepared to invest in this project and beyond,” stated Ekici, emphasizing Turkish interest in ventures related to agriculture and energy.
The ambassador’s diplomatic efforts aim to inform Turkish companies about prospective investment opportunities in Angola.
Turkish interest in fostering growth in bilateral trade, which amounted to $240 million in 2022, is perceived as below the actual economic potential of both nations, estimated at $500 million annually.
“Our goal is to achieve the $500 million mark in the coming years, as agreed upon by the Presidents of Angola and Turkey during state visits aimed at bolstering trade relations,” Ekici affirmed.
Additionally, Ekici unveiled plans for a Memorandum of Understanding between the CCIA and the Confederation of Turkish Chambers to fortify business collaborations between companies in both countries.
President Soares highlighted ongoing efforts since 2022 between similar chambers in Angola and Turkey to materialize this Memorandum of Understanding.
