IKV and DEIK Chairman Ömer Cihad Vardan attended the 4^th Uludağ Economy Summit in Bursa on 13-14 March 2015. Giving a speech at the panel entitled “Africa: Window of Opportunity”, Vardan informed the participants about the business opportunities presented to the Turkish private sector in Africa. He also shared some practical information on how to do business in Africa and about the expectations from Africa within the framework of Turkey’s 2023 vision.

Vardan underlined the importance of Africa not only for Turkey but also for a significant number of countries in the world. He explained that total population of Africa which is around 1 billion is expected to double by 2060s. Presenting the two different cover pages of worldwide known magazine The Economist, Vardan pointed out that while the opportunities presented by Africa were emphasized nowadays, Africa was considered as a “hopeless continent” 13 years ago. Vardan mentioned that similar attitude towards Africa was also adopted by the Turkish bureaucracy and foreign delegations of Turkey in 1990s; yet, the perception of Africa is completely reversed at present time.

Vardan further underlined that Turkish companies have seized major business opportunities in Africa through their investments, goods produced and services offered.

Underlining the importance of developing trade and investment partnerships, IKV Chairman Vardan reminded that DEİK aimed to establish new business Councils in every country where Turkey has Embassies. He explained that among the current 121 Business Councils established 22 were found in Africa and the establishment of 17 more business councils was foreseen. Through the establishment of these new business councils, Vardan emphasised that Turkey’s and Turkish private sector’s prestige will increase in Africa.

IKV Chairman Vardan further mentioned that Africa became the centre of attraction in 2000s especially for countries such as China, India and Brazil who wish to become more active players in the region. Countries such as United Kingdom and France increased their political and military engagements due to security concerns while new actors in the region act by taking more the economic interest into account.

Alongside IKV Chairman Ömer Cihad Vardan, Chief Advisor of Mozambique Maputo Mayor Irene Tomas Boane; Kenya Shah Group CEO Vimal Shah; Former Economy Minister of Zambia and businessman Situmbeko Musokotwane; and President of Tosyalı Holding Fuat Tosyalı also gave speeches in the panel.

As it is known, Uludağ Economy Summit is one of the most significant economic events in Turkey. Gathering 65 speakers from 25 different countries, this year Uludağ Economy Summit hosted former President of European Central Bank Jean Claude Trichet, Google Ideas CEO Jared Cohen and Editorial Director of German Bild newspaper Kai Georg Diekmann.