Turkish investors keen to invest in Ethiopia: Ambassador

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Turkish investors keen to invest in Ethiopia

Turkish Ambassador to Ethiopia Fatih Ulusoy said more Turkish investors are interested to do business in Ethiopia as the economic cooperation of the two countries is based on mutual benefit.

Out of Turkey’s six billion USD Foreign Direct Investment in Africa, 2.5 billion USD has been channeled to Ethiopia

The ambassador hailed the support of the government here to boost economic cooperation between the two countries.

Ethiopia and Turkey have been uplifting their bilateral ties in various areas. Nowadays, Turkish investors are furthering their investment in different sectors mainly in textile.

Out of Turkey’s six billion USD Foreign Direct Investment in Africa, 2.5 billion USD has been channeled to Ethiopia. This is Turkey’s biggest share of the total African investment.

Trade volume between Ethiopia and Turkey reached 450 million USD in 2016 and efforts are in the pipeline to raise the figure to 1 billion USD in the near future. [EBC]