HomeNews & InsightsAndalem at Ethio-Turkish Trade and Investment Forum May 2014

Andalem at Ethio-Turkish Trade and Investment Forum May 2014

The Ethiopian-Turkey Trade and Investment Forum took place in Addis Ababa on Friday, May 30, 2014 at the Prime Minister Office. The Forum brought Turkish businesses and high level Ethiopian Official on the same table for discussions.

The event was organized in collaboration with Turkish Confederation of Business and Industrialists (TUSKON) and the Ethiopian Chamber of Commerce and Sectoral Association (ECCSA). In addition to this, two weeks earlier a team of high level delegations from Ethiopia had visited Turkey. And the visit by the Turkey delegates is made following the steps of the Ethiopians.

The Forum had two parts; the first one was a discussion between Turkish investors and Ethiopian officials and promoting potential investment sectors. The second part of the Forum, that took place in the afternoon, was focused on the Business to Business (B2B) meeting the Ethiopian and Turkish business community.

Top executives from the TUSKON led by their chairman, Rizanur Meral, held talks with senior Ethiopian officials on the issues of mutual trade and investment relations on the first part of the Forum.

And Prime Minister Haile Mariam Desalegn in his opening speech appreciated noted many Turkish companies have in recent decades become significant contributors to Ethiopia’s economic growth. He added, “I sincerely believe this will lead to a more meaningful Turkish investment. With their well established market networks and proven experience in manufacturing and other productive sectors, I believe your continued presence here will go a long way in boosting our development endeavors”.

Haile Mariam also appreciated the Turkish investment on the Education sector. “I would like to thank the Nejashi Ethio Turkish International School in Addis Ababa, which has brought people to people relations and the international community together in that school”.

Government official that attended the event commented the event was among the biggest of its kind and very crucial to expand FDI flowing to the country with regard to manufacturing sector. 63 Turkish companies participated in the event and 75 percent of them were companies that are involved in the manufacturing sector. As to the rest of the companies, they are from transport and logistics, food, business consultancy, construction, energy, livestock, wholesale and retail business.

During the afternoon event, heads of the two business associations, Rizanur Meral Persident of TUSKON and Solomon Afework President of ECCSA, signed a memorandum of understanding (MoM) on the issue of enhancing the relationship between the two sides.

Commenting on this Solomon said “Turkey is one of the major countries playing a significant role in the economic development of the country and the MoU aims to expand this relationship”. He then added Ethiopian business delegates will visit Turkey.

TUSKON is the association of the business community in Turkey and it is one of Turkey’s leading business confederations.

And the trade relations of Ethiopia and Turkey reached 550 Million US Dollars in 2013 from 110 Million US Dollars in 2004.

Source: Capital

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