Ethiopia, Turkey Trade and Investment Forum kicks off in Ankara

Addis Ababa, March 29, 2022 (FBC) – Embassy of The Federal Democratic Republic of Ethiopia in Ankara,Turkey held a trade and investment forum in Ankara in collaboration with Industrialist Business women and Business men Confederation ( SANKON) on 28th March 2022.

Ambassador Adem Mohamed in his opening speech acknowledged Turkish investors as the second largest investors in Ethiopia, engaging in different sectors, creating job opportunities for thousands and exploring the vast opportunities.

Highlighting the strong relation Ethiopia and Turkey have enjoyed, including their strong people-to-people relationship, the Ambassador called on the business community of both countries to help cement relations in doing business and investment.

Ambassador Adem underlined the commitment of the government of Ethiopia to investors coming from abroad and explained the actions taken by the government in reforming the rules and regulations and opening up new investment areas for foreign investors.

Ferudun Cevahiroglu, president of Industrialist Businesswomen and Businessmen Confederation (SANKON) stated that existing strong relation of the two countries and asserted the support of the Turkey government to the growth and development of Ethiopia.

The Board Member of the Ethiopian Chamber of Commerce and Sectoral Association Dr. Aynalem Abayneh, his part, stated the efforts his organization is exerting to help facilitate the business activities between Turkish and Ethiopia and announced his organisation’s plan to host a business delegation to Ethiopia in collaboration with SANKON.

He also reiterated the need to build strong economic relations with Ethiopian and noted the huge opportunities Ethiopia present for Turkish investors in different sectors.

A panel discussion was held in four major investment opportunities involving participation of attendees. The presentation covers the area of Textile and Agro-processing; Leathers, Mining and Energy; Technology and Tourism; and Pharmacelitcal and Health areas.

The Ethiopian side presentation was made by Wubie Mengistu, acting Secretary General of the Ethiopian Chamber of Commerce.

A meeting was also held between the Ethiopian and Turkish business people followed by signing of Memorandum of understanding (MOU) between Ethiopian Chamber of Commerce and Sectoral Association’s and Industrialists Business women and Business men Confederation (SANKON) in the presence of Ambassador Adem Mohamed.

During the business forum more than 100 business people from Turkish and more than 25 from Ethiopia attend the meeting fiscally and more Turkish people are participating online.

Prior to the forum discussion was held between the embassy and leaders of SANKON regarding the robust investment opportunities in Ethiopia.