Electricity
Ethiopia and Turkey have signed a Memorandums of Understanding (MoU) for to enhance cooperation in mining sector, industries and electricity
They are also to cooperate in the promotion of small and medium manufacturing as well as electricity installations.
The MoU was signed by Ethiopian Minister of Industry, Mr. Ahmed Abtew and Turkish Economy Minister Nihat Zeybekci.
It was signed during the Ethiopia-Turkey Business and Investment Forum held in Addis Ababa.
With the signing of the MoU, the two countries aims at boosting their current $450 million trade balance to $1 billion in less than two years, Ahmed said
The industry minster called on Turkish companies to engage in railway construction alongside the other favorable areas of investment in the country.
The number of Turkish firms in Ethiopia reached 150 in 2015, creating 30,000 jobs the Turkish minister stated adding significant numbers of other Turkish firms are eyeing to invest in Ethiopia.
As stated by Zeybekci, the total amount of investment by Turkish firms in Ethiopia is around $2.5 billion with the firms employing the highest number of workers in private sector in Ethiopia.