Erdogan calls on Africa to trade in local currencies

Turkish economy faced speculative attacks recently, Turkish president says

Erdogan calls on Africa to trade in local currencies

Turkish President Recep Tayyip Erdogan called on African countries to trade and do joint businesses with Turkey using local currencies.

"Let's save our trade from risks posed by foreign currencies," he said at the Turkey-Africa Economy and Business Forum in Istanbul on Wednesday.

He underlined that they have to take steps to save their countries from currency pressure.

"We prioritized this issue [trading in local currencies] as the country faced speculative attacks recently," the president said.

Erdogan said it is important to believe that alternative ways are possible.

"We are ready to enhance our trade relations using local currencies not only with our main trade partners but also with our African friends," he added.

Turkey has been pushing for trade in local currencies accusing the U.S. administration of using the dollar as a tool to attack other countries’ economies.

"We are ready for all kinds of cooperation with win-win approach and on the basis of benefit sharing," Erdogan said.

-Cooperation with African countries

Erdogan added that third edition of Turkey-Africa partnership summit is planned to be held in Istanbul in 2019.