A new Turkish report obtained by Ethio Newsflash has indicated that Ethiopia is currently Turkey’s biggest African investment destination and over 300 Turkish companies are investing more than 3 billion dollars in Ethiopia.
This makes up half of Turkey’s total investments in sub-Saharan Africa.
The announcement of this report came as an Ethiopian delegation led by President Mulatu Teshome has arrived in Turkey’s capital, Ankara. The state visit, which is a result of an invitation by the Turkish President, has included a delegation that comprised of Minister of Foreign Affairs Dr. Workineh Gebeyehu and other high- level government officials.
The Ethiopian Chamber of Commerce and Sectoral Association is also attending this high level state visit through an invitation from the government of Turkey to represent the Ethiopian private sector.
Turkey has a one trillion dollar economy and a quarter of it is based on the manufacturing sector. However, Ethiopia’s manufacturing sector is still at its infancy and contributes only 5 percent to the overall GDP. The Ethio- Turkish business relationship is also experiencing a steady growth in the past few years.