Ethiopia waiting for Turkish investors

ADDIS ABABA (A.A) – December 20, 2011 – Ethiopia, one of the growing economies of Africa, is waiting for Turkish investors. Turkish companies consider Ethiopia as the center of opening to Africa. These companies provide employment for nearly 10,000 people in this country. Turkish businessmen are interested in textile, construction materials, agriculture and food production in Ethiopia. The investment amount of Turkish businessmen in Ethiopia exceeded 500 million USD, and it is expected to reach 2 billion USD soon. There are 100 Turkish companies operating in Ethiopia which export products to Turkey worth of 30-40 million USD. Turkey's export to Ethiopia is 290 million USD. Meanwhile, Turkish Airlines (THY), which holds one flight in a week to Addis Ababa, plans to increase it to two as of next summer. Turkish Ambassador in Addis Ababa Kenan Ipek said that there was a special interest in Turkish businessmen in Ethiopia for investments. He added that there were Turkish investors who were interested in health and energy sectors in Ethiopia. Ethiopia's gross domestic product is 28.5 billion USD in 2010. National income per capita is 393 USD. Ethiopia is known as the only reliable country which is not a colonial one in African continent, and it hosts embassies of 169 countries. Turkish Ayka Textile is Ethiopia's one of the biggest integrated textile companies which was established five years ago.