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Ethiopia: Turkish Investment in Ethiopia Reached USD 2 Billion

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Turkish investors had invested a total of USD 2 billion in Ethiopia, creating over 20,000 job opportunities according to the Ethiopian Investment Commission.

The Ethio-Turkish Investment and Business Promotion Forum was held last week aiming to bolster business ties between the two countries, with a focus on sectors like agriculture, manufacturing, mining, tourism, and education.

Turkish Ambassador Berek Baran emphasized the mutual benefit principle guiding Turkish investments in Ethiopia and expressed Turkey's commitment to strengthening diplomatic and trade ties with Ethiopia and Africa. According to the Ambassador, Ethiopia's rich diplomatic history and diverse investment opportunities make it an appealing destination for Turkish investors, with prospects for further engagement in various sectors in the future.

Bilateral trade volume between Turkey and Ethiopia amounted to USD 398.8 million in 2019. The figure decreased to USD 272 million in 2020 even though Ethiopia’s exports to Turkey increased by USD 14 million within a year from USD 27 million, the export volume registered in 2019.

Source: Addis Zemen

Additional source: 2Merkato Archives