The Turkey's Steel Exporters' Association (CIB) carried out commercial visits to Kenya and Tanzania on September 16-22 with the participation of 104 Turkish steel producing and exporting firms in order to evaluate new business opportunities, with the support of the Turkish Ministry of Economy. 1196 bilateral business meetings held during the visits aimed at increasing steel trade activity with those markets, are expected to be reflected in trade statistics in the coming period.
CIB president Namık Ekinci stated "Those two countries have development programs similar to Turkey's 2023 aim. Large scaled infrastructure and superstructure projects are going to be realised in coming days and their budget will be met from current precious mineral reserves and new reserves of oil, gas, iron ore and coal to be explored. We expect significant rise in the steel consumption of those countries with their increasing population and growing economies. We discussed the possibility of meeting the countries steel demand via imports in the first place and the necessity of the joint venture investments in the pediod to come."
The CIB said that similar commercial visits has been carried out to seven countries before Kenya and Tanzania. Turkey's total steel exports to these countries saw a 42 percent increase in August this year, amounting to 667,078 mt, over the 469,180 mt recorded in the period before commercial visits.
CIB also announced the organization of a commercial visit to Brazil and Argentina on December this year.