Ethiopia, Turkiye to expand cooperation in trade, investment

Ethiopia, Turkiye to expand cooperation in trade, investment – Ethiopian Press Agency

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ADDIS ABABA –Ethiopia and the Republic of Turkiye have pledged to explore new opportunities and strengthen existing partnerships.

The Ministry of Foreign Affairs and the Ethiopian Chamber of Commerce and Sectorial Association (ECCSA ) organized a business forum yesterday to foster the engagements of both sides.

Speaking at the forum, Ethiopian Investment Commission Commissioner Hanna Arayaselassie said that the government of Ethiopia has been offering incentives in key priority areas, building infrastructure, and a series of reforms to improve the business environment thereby registering significant economic growth.

Cognizant of its strategic location in the Horn and notable investment destination with a huge domestic population, the commissioner further remarked that investing in Ethiopia promotes not only the ever-growing domestic market but also the rest of Africa.

“Due to its proximity and easy access to the Middle East, the country is preferable and ideal destination for investment,” the commissioner added.

Furthermore, she said that the government has been also providing basic infrastructure, road connectivity, Ethio-Djibouti Railway cheap green energy that meets investor’s needs and expedites import and export trade which helps inject the nation’s economy

In parallel, the commission has given priorities for agriculture and agro-processing, manufacturing, ICT, mining and tourism sectors, she added.

Extraordinary and plenipotentiary of the Republic of Turkiye, Ambassador Berk Baranfor his part stated that the forum is believed to foster investment opportunities in Ethiopia.

As the continent in general is shining with a great natural resources potential, the Ambassador emphasized that: “It is important to enhance our win-win comprehensive approach in the continent. Indeed, Ethiopia is the forefront diplomatic capital of the world.”

“The Turkish Airlines, which helps its counterpart as a gateway to Europe for the Ethiopian to the Africans, with diverse destinations helps to foster our partnership that benefits our cooperation,” the Ambassador noted.

In addition to our long-standing diplomatic relations and business-to-business ties, he said, adding that both sides have also been entertaining good people to people.

ECCSA President, Melaku Ezezew (Eng.) stated that Ethiopia and Turkey have long-standing diplomatic relationships in terms of economic, political, and public relations.

As to Melaku, this platform would help identify opportunities and tackle challenges hindering investment and trade between our nations. Besides, it serves as an invaluable platform for forging new trade and investment partnerships.

He said: “Turkey exported 746 million USD worth of goods to Ethiopia, including spacecraft, raw iron bars, and semi-finished iron in 2022. Equally noteworthy is Ethiopia’s export to Turkey, amounting to 24.6 million USD in the same period with main products including oily seeds, dried legumes, and coffee. ”

Moreover, Ethiopian Airlines, Africa’s largest carrier, operates direct flights from Addis to Istanbul and other places, allowing businesses to supply their products and services while integrating African economies into the nation.

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