Turkish President Recep Tayyip Erdogan arrived in Chile on Sunday, with a plan to expand trade in Latin America. He will go on a tour, which will also include trips to Ecuador and Peru.

Today’s Zaman says that it has been more than two decades since the last time that a Turkish President has visited Chile. Suleyman Demirel, the ninth president of Turkey, visited the country in 1995. Erdogan will be the first Turkish President to visit Ecuador and Peru.

Erdogan intends to boost economic relations between Turkey and South America. He is expected to finish his Latin American tour on Thursday before going back to Turkey. The head of state is slated to meet with businessmen from both Turkey and South America during his visit, where he will discuss economic, bilateral, political, regional and international issues and developments.

Chile was actually the first nation in Latin America that signed a free trade agreement with Turkey. In 2012, Chilean President Sebastian Rivera came to Turkey and signed certain agreements to form a strategic partnership framework between the two countries.

VOA News reported that Turkey has been looking for new markets, after conflicts ravaged nearby countries and its major trading partners such as Iraq and Syria. Turkey was also recently handed economic penalties after Ankara downed a Russian jet late in 2015. The latest trade data released at the end of January indicated that exports went down by 11 percent in December 2015.

"The fundamental idea behind Erdogan's visit to Latin America is Turkey's push to search for new markets and diversify,” said a Turkish official from the economy ministry. “Turkey does a great deal of business with its neighbors but is experiencing difficulties because of rising problems in the Middle East."

The move to bolster trade in Latin America will hopefully help Turkey close the gap in the following years. In 2014, trade with Latin America was almost $10 billion, although there is still much room for improvement. Mexico was the No. 1 Latin American destination for Turkish exports, while Peru was second. Some of the major exports of Turkey to South America include steel, iron, animal oils, vegetable oils, autos and machinery. The country is also aiming to tap into the Middle Eastern, Central Asian and African markets.

The official added that there will certainly be expansion for the Turkish market, although it is not expected to be huge and groundbreaking.