Facebook Twitter (X) Instagram Somali Magazine - People's Magazine
Ethiopia and Turkey continue to deepen their diplomatic and economic relations, emphasizing stronger bilateral ties and expanded investment opportunities. In a recent meeting, Ethiopian Foreign Ministry spokesperson Misganu Arega and Turkish Ambassador to Addis Ababa Berk Baran reaffirmed their commitment to enhancing cooperation between the two nations.
Arega highlighted Ethiopia’s ongoing macroeconomic reforms aimed at creating a more favorable business environment for foreign investors. These reforms include the liberalization of the foreign exchange rate and the introduction of foreign banks into the country, signaling Ethiopia’s openness to increased foreign participation in its economic landscape. Arega emphasized that these strategic changes provide significant opportunities for Turkish businesses to expand their investments in Ethiopia, further strengthening the longstanding partnership between the two countries.
Ambassador Baran expressed Turkey’s satisfaction with the growing diplomatic relationship and underscored Turkey’s commitment to further enhancing multifaceted bilateral relations with Ethiopia. He also praised the collaborative spirit both nations have shown, particularly in relation to the Ankara Declaration. This Turkish-mediated agreement has played a pivotal role in ensuring Ethiopia’s access to the sea while respecting Somalia’s territorial integrity, showcasing Turkey’s role as a key mediator in the region.
Turkey has emerged as a significant player in Africa’s investment landscape, with Ethiopia standing as a prime destination for Turkish investments. Turkey’s total investments in Ethiopia have reached approximately $6 billion, making it one of the largest foreign investors in the country. Turkish businesses operate across diverse sectors such as construction, manufacturing, textiles, agriculture, and chemicals, contributing significantly to job creation and economic development in Ethiopia.
Among the most impactful Turkish ventures in Ethiopia is the work of Yapi Merkezi, a renowned Turkish construction company actively engaged in infrastructure development projects. The company has undertaken the construction of a 400-kilometer railway line connecting central and eastern Ethiopia to the port of Djibouti. This railway project is expected to enhance Ethiopia’s trade efficiency and economic integration within the region, improving logistical access for businesses and reducing transportation costs for exports and imports.
The Ethiopian government has continued to prioritize foreign investments as a pillar of its economic growth strategy, with Turkish companies playing a crucial role in this vision. Ethiopia’s recent regulatory reforms are designed to create a more transparent and investor-friendly market environment, including simplified licensing processes, reduced trade barriers, and increased protections for foreign assets. These efforts aim to attract additional Turkish investors seeking expansion opportunities in Africa’s rapidly growing markets.
Cultural exchange and educational cooperation have also been central to the Ethiopia-Turkey relationship. Turkish institutions have provided educational scholarships to Ethiopian students, while cultural exchange programs have facilitated mutual understanding between the populations of both countries. These initiatives not only strengthen diplomatic ties but also promote people-to-people connections that go beyond economic interests.
Looking ahead, both Ethiopia and Turkey have expressed their intention to explore new areas of cooperation, particularly in technology transfer, skills development, and joint ventures in key industries. As Ethiopia continues its economic transformation journey, partnerships with countries like Turkey remain vital to achieving its long-term development goals.
The recent meeting between Arega and Baran signals a shared vision of mutual prosperity, where economic cooperation drives sustainable development and diplomatic relations are strengthened. The ongoing collaboration between the two nations not only opens new opportunities for Turkish investors but also contributes significantly to Ethiopia’s broader goals of industrialization, job creation, and regional economic integration.
With a history of strong diplomatic ties and a forward-looking approach to cooperation, Ethiopia and Turkey continue to set an example of how strategic partnerships can drive economic progress and cultural exchange. The future looks promising for both nations as they work together to unlock new investment opportunities and build a foundation for sustained growth.