Opening the second Ethio-Turkish Business Council Forum, Prime Minister Hailemariam Desalegn called on more Turkish investment in the areas of development and finance, investment and bilateral trade with between the two countries.
The Turkish delegation, numbering some 200, led by the country’s Minister of Economy, Nihat Zeybekci, discussed with its Ethiopian counterpart on means of bolstering investment relations between the two countries.
Prime Minister Hailemariam said that his government has started negotiation with Turkey on the basis of financial freedom to attract more investment from the country.
"Turkey is one of the most reliable development partners the Government of Ethiopia has in its endeavors to extricate itself from poverty," Hailemariam said during the opening of the forum at the United Nations Economic Commission for Africa (UNECA). The Prime Minister also urged the Turkish EX-IM Bank to finance projects in Ethiopia.
"There is still ample room for further expansion, in terms of volume and quality, of the development financing that the government of Turkey has been putting at our disposal [which nevertheless] has been increasing," Hailemariam added.
On the occasion, the Turkish Minister of Economy, Zeybekci, made official the USD 300 million loan his country extended for the Awash-Woldiya Railway Project.
According to Yusuf Aydeniz, chairman of Ethio-Turkish Business Council, the ever growing investment and trade volume between the two countries has weighted over the last few years.
When the investment reached USD 1.6 billion, the largest Turkish investment in Africa, the trade volume jumped from USD 70 million to USD 450 million, Aydeniz said.
Solomon Afework, President of Ethiopian Chamber of the Commerce and Sectoral Associations, vowed to take the partnership with Turkish Confederation of Businessmen and Industries (TUSKON) forward by participating in the 9th International Turkish-African Congress which will be held next year in Istanbul, Turkey in April next year.
Back in August, the Ethiopian Investment Commission announced that Turkish Foreign Direct Investment (FDI) to Ethiopia is leading the group of emerging economies that have shown interest in investment opportunities in Ethiopia.
Although the Chinese lead in terms of number of companies that have invested in the country, the Turks lead others in combined capital outlay, the commission said.
https://www.thereporterethiopia.com/index.php/news-headlines/item/2875-ethiopia-turkey-keen-to-boost-business-ties