Turkey’s Trade Partnership with Ethiopia is Progressing
Working breakfast in honor of President of People’s Democratic Republic of Ethiopia took place in Istanbul on February 9, 2017 with the attendance of Minister of Economy of Turkish Republic Nihat Zeybekci. Event was organized by DEİK enabling many Turkish and Ethiopian businesspeople to come together.
Ethiopian President highlighted both parties’ effort to develop economic relations, “President Recep Tayyip Erdoğan gave us a great opportunity and during this visit we were able to come together with the business world. Historical ties between too countries is very old and by looking back at the history you will see that Ethiopia was once a neighbor. Now, Ethiopia is Turkey’s long distance neighbor and it is ready to collaborate” said the president. Foreign direct investment should not be limited to textile but the country needs investment in infrastructure and energy to complete its industrialization. Private sector will have a key role in the development. Ethiopia targets to be a mid-developed country and wants Turkey to have a part in this process. Country needs to advance in the sectors of health and education to enable high quality labor. He invited Turkish businessmen to Ethiopia to make investments in geothermal and hydroelectric power plants.
Minister of Economy of Turkish Republic Nihat Zeybekci emphasized developing relations with Ethiopia and Turkey’s 2.5 billion USD worth investment in the country. “Turkish investors’ interest in Ethiopia is growing and I personally trust and believe in Ethiopia. Financial, technical and industrial support will be provided. During our visit in Ethiopia in December we will be able to benefit from Free Trade Agreement” said Nihat Zeybekci during his opening speech.
DEİK President Ömer Cihad Vardan drew attention to DEİK’s effort in Turkey’s African Expansion strategy. “Just like DEİK/Turkey-Ethiopia, DEİK has business council in 39 countries. Thus, we are hoping to take advantage of this network. In the beginning of last November Turkey-African Economy and Business Forum took place in Istanbul. In the summit, there were 3,500 people including a team from Ethiopia. We will continue our efforts and we hope to see Ethiopia’s presence in the upcoming events. A similar event will take place in the end of April in cooperation with ministry of Agriculture. The summit will only be about agriculture and agribusiness. Ethiopia’s participation in this summit is significant since it is a powerful country regarding agriculture” said the President.
DEİK’s Counterpart Organization Ethiopian Chamber of Commerce & Sectoral Associations’ President Endalkachew Sime stated “Turkey and Ethiopia has a great partnership. Within this partnership, investment has reached a 500 million USD and if private sector also contributes a greater chapter will begin. Infrastructure in manufacturing and agribusiness is very critical and Turkey is an exceptional trade partner to establish win-win solutions.
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