March 15, 2017 - Turkish companies’ interest in investing in Ethiopia is growing, says the country's Ambassador to Ethiopia, according to ENA.
President Mulatu Teshome held discussion with Turkish business delegation on Wednesday.
After the discussion, Ambassador Fatih Ulusoy said companies are interested to engage in the areas of construction materials, textile and garment as well as energy.
The Ambassador added, Turkey’s presence has always been very strong in the textile field and there are still many companies from Turkey that interested in moving their investments to Ethiopia.
“Every week, we have different groups of business men from Turkey who are very keen on investing in the country”, he said.
Turkey has more than six billion USD investments in Sub-Saharan Africa, of which 2.5 billion USD is in Ethiopia.
“So, this is a very clear sign of the investment climate of Ethiopian government presence and we continue to work with the government in this regard, to attract more business and investment from Turkey” he said.
According to the ambassador, the trade volume between the two countries which stands at 440 million USD per year doesn’t reflect their potential.
During the visit of President Mulatu Teshome to Turkey, the two countries agreed to increase their mutual trade volume to one billion USD, he indicated. (ENA)