Turkey's Erdoğan urges African countries to trade in local currencies
Speaking at the Turkey-Africa Economy and Business Forum in Istanbul on Wednesday, Turkish President Recep Tayyip Erdoğan has urged African countries to use local currencies in trade and joint businesses. The president also said his speech: "Let's save our trade from risks posed by foreign currencies. We prioritized this issue [trading in local currencies] as the country faced speculative attacks recently."
- Economy
- Anadolu Agency
- Published Date: 12:00 | 10 October 2018
- Modified Date: 01:03 | 10 October 2018
Turkish President Recep Tayyip Erdoğan called on African countries to trade and do joint businesses with Turkey by 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.
Erdoğan 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.