By Mariam Williams
Gambia Investment and Export Promotion Agency (GIEPA), conjointly with the Gambia Chamber of Commerce and Industry (GCCI) and the Gambian Ministry of Trade, Industry, Regional Integration and Employment (MoTIE), recently held a Turkey-Gambia Business Forum hosted at Paradise Suites Hotel in Kololi.
The country’s Trade Minister, Mr. Lamin Jobe, said he was delighted to be invited to grace the occasion of the first Turkey-Gambia Business Forum jointly organized by the GCCI, the Foreign Economic Relations Board- DEIK and his Ministry.
“This is a laudable initiative towards bringing together business leaders from the two countries as part of our continuing efforts to widen and deepen our trade and investment ties,” the Trade and Regional Integration boss vouched.
Jobe told the forum attendees that currently, Turkish clothing and home textile industries have had a significant role in the world’s clothing and home textile markets.
The Minister continued, “We understand that in Turkey, the apparel sector is the second biggest sector following the automotive sector.”
He pointed out also that the clothing and textile industry is largely based on cotton and domestic output and does not fully meet the demand, which makes Turkey the world’s third-largest cotton importer.
The Gambian Minister apprised the business gathering that about 8 percent of the cotton traded in the world market is harvested in sub-Saharan Africa, which has much more planting capacity with a competitive advantage due to AGOA- the duty-free access of exports to the large United States market.
Minister Jobe disclosed that in The Gambia, they have 43.5% arable land as a share of land area, recalling also that in the past, “cotton used to be the second cash crop after groundnuts”. As a result, he indicated, work has already begun in reviving the sector, starting in the Upper River Region (URR) considering that the country’s main cash crop has lost its value in the international market.
He intimated that they are, for that reason, promoting the production of cotton, cashew, sesame and horticulture, as well as light manufacturing and Information and Communication Technology (ICT).
“I believe that in this regard, Turkey can provide technology and vocational education to increase this percentage and gain mutual benefit,” he remarked.
To Trade Minister Jobe, the fact that Turkey has taken into account Africa’s development agenda, while charting the future course of engagement speaks volumes about Turkey’s strong desire to be relevant to Africa’s needs and make the partnership more meaningful.
Since the first Turkey-Africa Summit in 2008, Turkey’s blend of development package, technology transfers, human resource development and infrastructure development has contributed to Africa’s resurgence, argued Minister Jobe.
The two documents Istanbul Declaration 2008 and Framework for Cooperation that were adopted at the said Summit in Istanbul in 2008 reflected on the political, security and socio-economic issues.
Now that the leaders have talked the talked, the Gambian Minister challenged that “the business leaders have to walk the talk by taking advantage of the trade and investment opportunities in Africa and Turkey with a combined population of over 2 billion consumers”.
Shifting his lens on home front, Jobe echoed: “I am pleased to inform you that the Government of The Gambia has embarked on serious reforms to continue to enhance our competitiveness and increase in-flow of foreign investment in our economy.
“Some of the key reforms include developing a new Investment Policy 2018, strengthening the Gambia Investment and Export Promotion Agency (GIEPA) by reviewing and updating the GIEPA Act 2015 to respond to the changing needs of investors more favorably to enhance our competitiveness.
“The GIEPA Act provides fiscal incentives to investors; ensures security of investment and provides clear guidance for dispute”.
The proximity of Gambia to Europe and American as well as being an English speaking country, as he noted, provides a unique opportunity to investors from Turkey.
Hear the Minister: “The Gambia is only six hours flight to any European country and 8 hours flight to America. In addition, being a member of the ECOWAS Community, presents an opportunity to investors investing in The Gambia to access a market of over 300 million consumers on duty-free-quota free bases. “The marked improvement in our road infrastructure, energy, health and education systems are impacting positively on the investment environment.”
Jobe further said these highlights present enormous business opportunities to their visiting Turkish business delegates.
“I urge them to seize the momentum to take advantage of the opportunities. The Government through my Ministry, GIEPA and GCCI would be glad to work with you to facilitate your investment,” encouraged Trade Minister.
Jobe thanked the Turkish Trade Minister, DEIK, GCCI and GIEPA for convening that forum, and he used the opportunity it availed, “to encourage the partners to continue on this path of bringing business leaders from the two countries together on such a platform”.
Turkey’s Minister of Customs and Trade, Madam Ruhsar Pekcan, who also graced the Forum, informed the audience that many Turkish investors intend to invest in The Gambia, and Turkish industries also intend to build infrastructure in The Gambia.
Ms. Pekcan, an electrical engineer who became the Minister of Trade for Turkey in 2018, further told the Gambia-held business forum that, they [Turkish] are more than willing and ready to support Gambia’s development plan.
“Africa is of great importance to us, and I hope this will be the seed of many fruitful relations,” the forum heard from Customs and Trade Minister Pekcan.
{GIEPA is the national agency responsible for promoting and facilitating Investment, Business and Export Development and Support to MSMEs and regulation of designated export processing zones in The Gambia.}
