Prime Minister Hailemariam Says Turkey Contributes to Ethiopia’s Development Narrative

Prime Minister Hailemariam on Friday (May 30) opened the Ethiopia-Turkey Trade and Investment Forum in Addis Ababa. Welcoming a Turkish business delegation of 86 people representing 63 companies, he said the Government of Ethiopia gly supported concrete initiatives for unimpeded trade and investment to achieve mutual benefit and win-win progress. He emphasized that the developmental state’s right mix of policies and strategies had placed Ethiopia on the roads to renaissance, rejuvenation and prosperity. He noted Ethiopia was committed to create an enabling business and investment climate to fast-track the momentum and resilience of its economic development. Its engagement with the Confederation of Businessmen and Industrialists of Turkey (TUSCON), he said, was an “edifying experience” allowing it to much experience from the development of Turkey.

He said Turkish companies had become major contributors to Ethiopia’s remarkable economic growth and its development narrative, adding that TUSCON’s c engagement with Ethiopia, the established market networks of Turkish companies and their immense experience in manufacturing and other priority areas would pave the way for collective rejuvenation and development of Ethiopia and Turkey. The Prime Minister also welcomed the establishment of Turkish educational institutes in Ethiopia and appreciated Turkey’s commitment to join hands with the Government of Ethiopia to improve and raise the quality of education. He said Ethiopia greatly valued the importance of quality education and considered it as a necessary and solid foundation to Ethiopia’s sustainable development. Mr. Rizanur Merel, President of TUSCON, described Ethiopia as “a shining star of Africa” and a state committed to maintain the momentum of economic development with large scale investment and business potential for international investors. He emphasized that TUSCON was ready to share successful experiences in the fields of manufacturing, agriculture, construction, and energy.

He suggested that both sides should aance and reinforce efforts to encourage people-to-people relations and cultural exchanges to enhance mutual understanding and expand further cooperation. Solomon Afework, President of the Ethiopian Chamber of Commerce and Sectoral Association (ECCSA), gave details of the continued growth in trade and investment relations, and noted that the total trade turnover between the two countries had reached over US$550 million last year, up from US$110 million in 2004. He said Turkey had become one of the five leading sources of investment in Ethiopia, and he called on both sides to strengthen existing ties and diversify and enhance economic cooperation. Aklilu Wolde-Mariam, Director of Information at the Ethiopian Investment Agency, explained that Ethiopia was now a champion of political and macro-economic stability, endowed with ample investment opportunities, incentives, services and transparent legal frameworks to protect investors from expropriation or nationalization. At the close of the forum, the Ethiopian Chamber of Commerce and Sectoral Association and the Confederation of Businessmen and Industrialists of Turkey signed a Memorandum of Understanding on ways to expand further economic and investment cooperation between the two business communities. The Forum was also attended by senior government officials and representatives of the Ethiopian and Turkish business communities here in Ethiopia.

Source : Government of Ethiopia

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