Turkey and the Republic of Congo Relations
Political relations between Turkey and the Republic of Congo is continuing since 1960, the Republic of Congo gained independence. The signing of the “Trade, Economic and Technical Cooperation Agreement” on September 28, 2000 constituted a milestone for economic relations.
Congolese President Denis Sassou Nguesso has added impetus to the relations in November 2012 visit to Turkey, many agreements were signed on this occasion. The first Joint Economic Commission meeting was held in Brazzaville in June 2013 and the following meeting was held in Ankara in April 2015. Embassy of the Congo in 2013 in Turkey, Turkey’s Embassy in Congo was opened in 2014. There is a political consultation mechanism between the Ministries of Foreign Affairs of the two countries.
The Republic of Congo has an important economic potential due to oil production. In recent years, some construction companies have shown interest in the Congo and have realized important projects. In this context, the Brazzaville International Conference Centre was realized by Turkish Eximbank with a ceremony attended by Deputy Prime Minister Numan Kurtulmuş on 20 June 2017.
However, at the end of 2014, the decline in oil prices in world markets led to a significant decrease in the national income of the country, and the demand for import goods was greatly reduced. Turkish goods were also affected.
The exports of our country to the Republic of the Congo fell from $ 103.36 million in 2016 to $ 57.39 million in 2017. Import of our country from the Republic of the Congo in 2016 to $ 7.75 million in 2017, rose to $ 8.44 million. Total bilateral trade volume has been realized as 111.1 million dollars in 2016 and 65.84 million dollars in 2017, and trade balance is favoured by our country. The decrease experienced in our exports in 2017 corresponds to a decrease of over 36% in the general import volume of the country. Likewise, the weight of investment goods in our exports and the decrease in the investments in the country compared to GDP also affected our exports.
The country’s economy is expected to grow again in 2018 after a support agreement signed with the IMF. The Republic of Congo has made an average of $ 5 billion in total imports in the past years. The country is expected to invest in agriculture and light industrial areas and it has arable land that is not used in large quantities.
Our country is in development assistance to the Republic of the Congo in various fields through the Presidency of Turkish Agency for Cooperation and Development (TIKA).