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Turkish contractors have completed 39 projects in Senegal worth a total of $2.2 billion, Türkiye’s Trade Minister Omer Bolat said Saturday, adding that the two countries are also moving toward a bilateral trade volume of $1 billion.
“Our private sectors will successfully achieve the target set by our leaders,” Bolat said at the Türkiye–Senegal Business Forum in Istanbul, attended by Senegalese Prime Minister Ousmane Sonko, senior business leaders, and heads of major Turkish trade organizations.
Bolat indicated that Turkish investors have committed more than $780 million in Senegal to date, focusing on sectors such as agriculture, mining, energy, and industrial services. “These investments have created tens of thousands of jobs for Senegalese citizens, and we will continue to support new ventures,” he said.
He added that Türkiye is ready to contribute to Senegal’s newly announced 2050 development plan, which sets out long-term economic objectives under Sonko’s leadership.
“Türkiye’s support for Senegal will always be full, and we have complete confidence in their success,” Bolat stated.
Since 2005, Turk Eximbank, Türkiye's export credit bank, has provided $1.5 billion in loans and insurance support to Africa, Bolat said, noting that the bank became a shareholder in an African finance company in 2023.
Senegal’s economy has recorded annual growth of 7–8% in recent years, with projections of 6–7% between 2025 and 2030. Bolat said the recent discovery of offshore oil and natural gas fields has given Senegal “a powerful lever for development” and emphasized the country’s strategic role as a gateway to Africa’s 1.3 billion consumers.
“The 2050 plan offers opportunities for joint work in energy, defense, manufacturing, pharmaceuticals, agriculture and many other sectors,” Bolat noted.
The two countries have a bilateral investment promotion and protection agreement and a double taxation avoidance agreement in force.
Bolat said both sides will meet frequently in the coming months, including at the Türkiye–Africa Trade Ministers Meeting and Business Forum in Istanbul on Oct. 16–17, and at the Dakar International Trade Fair, which opens Dec. 7.
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