Turkish business tycoons are expected to come with Nihat Zeybekci, Turkey’s Economic Minister, during his visit to Ethiopia. According to Ayalew Gobeze, Ethiopia’s Ambassador to Turkey, the Economic Minister’s trip to Ethiopia is scheduled for some time in the coming month.

The business tycoons, on the other hand, are said to visit potential business locations in Ethiopia and also participate in bilateral meetings with Ethiopian government officials and business community.

In the recent years, Turkey’s investment to Ethiopia has been growing. Out of the 6 billion USD Turkish investors spent in Sub-Saharan countries, half of it was in Ethiopia. The investors are mainly targeting textile and garment sub sectors.

In the last few weeks, 2 business forms focused on Ethiopia, were held in Turkey. Commenting on the forums, Ayalew said; “During the latest Turkish/African business forum held two weeks ago Ethiopia was talked about as one of the best investment destinations for Turkish business people and many came forward to give their testimony about the opportunities there”.

Ayalew further noted that Turkish investors engaged in solar, wind and hydro energy have already spent time in Ethiopia. On the other hand, investors in garments, agro processing and textiles are expected to expand their businesses in the country, the Ambassador added.

Source: Capital