Double taxation is on the agenda! Minister Bolat announced, an agreement was reached with the African country

Speaking at the Turkey-Cameroon Trade and Investment Round Table Meeting held at the Turkish Exporters Assembly (TİM) Foreign Trade Complex, Bolat stated that Cameroon is a valuable economic partner for Türkiye.

Stating that Türkiye attaches importance to developing its economic and diplomatic relations with Africa, Bolat said that the number of diplomatic missions of the Ministry of Foreign Affairs was increased from 12 to 50, and the number of trade offices of the Ministry of Commerce was increased from 4 to 27 23 years ago.

Pointing out that foreign trade between Türkiye and Africa has increased in the last 23 years, Bolat noted that Turkish contracting companies have undertaken 2,118 projects across the continent with a total commitment value of approximately 105 billion dollars.

Stating that the trade volume between Türkiye and Cameroon increased to 542 million dollars last year, Bolat stated that the contracting activities between the two countries reached the level of 1 billion 170 dollars with 28 projects.

Stating that they want to increase investments between the two countries and implement new projects, Bolat said:

"Our trade volume with sister country Cameroon increased to 542 million dollars last year. This was followed by construction activities worth 1 billion 170 dollars with 28 projects in the contracting sector. Turkish and Cameroonian companies carry out mutual trade and investment relations. At this point, Turkish Airlines also flies to Cameroon regularly. We have come to an agreement with my esteemed minister brother (Cameroonian Minister of Economy, Planning and Regional Development Alamine Ousmane Mey). In order to increase investments as soon as possible, double taxation will be eliminated." "We agreed to negotiate and sign the prevention agreement. We agreed to continue the projects and implement new projects. Türkiye and Cameroon should join forces and increase mutual trade."

Bolat stated that there are important cooperation opportunities between the two countries in the fields of tourism, health services, agriculture, manufacturing, contracting and renewable energy, and invited Turkish and Cameroonian business people to invest in these areas.

Cameroon's Minister of Economy, Planning and Regional Development, Alamine Ousmane Mey, said that the trade volume between the two countries is below the current potential.

Mey said, "Our foreign trade volume reached 542 million dollars. The level of foreign trade between our countries definitely does not reflect the potential. It can go much higher." he said.

Stating that Turkish companies operate in the fields of manufacturing, trade, agriculture and contracting in Cameroon, Mey thanked the companies investing in the country. Stating that Turkish companies have undertaken 27 important projects in Cameroon, Mey reminded that the Douala Japoma Stadium, the largest stadium in the country, was built by a Turkish company.

Stating that the trade volume between the two countries can be doubled, Mey noted that there are important opportunities in the agriculture, energy, services and health sectors. Touching on the work of the Turkish Maarif Foundation in the field of education, humanitarian aid and the activities of the Turkish Cooperation and Coordination Agency (TIKA), Mey emphasized the importance of these contributions.

The second part of the meeting continued with the participation of Deputy Minister of Trade Özgür Volkan Ağar.