Turkey looks to enhance ties with D-8 economic group

It is vital for Turkey to enhance ties with the D-8 economic group and Nigeria, according to Turkish Science, Industry and Technology Minister Faruk Özlü Friday.

"Turkey and Nigeria have great potential. We should work in detail for advancing trade volume," Özlü told Anadolu Agency in capital Abuja.

The minister said bilateral trade exceeded $820 million in the first nine months of the year.

"This number is very low," he said.

According to Turkish Statistical Institute, Turkey's exports to Nigeria stood at $241.6 million while its import from the country was nearly $158 million in 2016.

Turkey remains open to cooperation in science, technology and industry, he said.

Özlü said Turkey's business circle would be interested in privatization activities and investment opportunities in Nigeria's iron, steel and defense industries.

"Automotive supply industry is well developed in Turkey. Industrialists in this sector can also invest in Nigeria," he added.

On June 15, 1997, the D-8 -- comprising Turkey, Indonesia, Bangladesh, Egypt, Iran, Malaysia, Nigeria and Pakistan created an organization -- was launched after former Prime Minister Necmettin Erbakan proposed the creation of an economic group.