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Turkey plans establishment of industrial zone in Addis Ababa

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September 4
10:30 AM 2013

Turkey said it planned to establish an industrial zone in the Ethiopian capital of Addis Ababa. Turkish Foreign Minister Ahmet Davutoglu told participants of the African Strategies Sectoral Evaluation Meeting that the Prime Minister of Ethiopia had proposed that land would be assigned to Turkey for the creation of the zone.

Davutoglu said, "They [the Ethiopians] know that we don't go to Ethiopia with a passing fancy and calculations of temporary profits. We also know that they don't only offer a business opportunity but that they opened their hearts."

Davutoglu also said that the creation of the industrial zone would be part of its African business policy. He said that a Turkish company made a USD 50 million investment in Africa in 2005. Now, there are already 341 Turkish firms doing business in Ethiopia. Their total investment in the African country already reached USD 3 billion.

Davutoglu also said there are many opportunities for Turkish firms in Africa, specifically in the fields of construction and trade.

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