Turkish envoy foresees vibrant cooperation with Africa

Newly appointed Turkish Ambassador to Ethiopia and Permanent Representative to the African Union, Fatih Ulusoy, on March 25 expressed readiness to take his country's cooperation with Ethiopia in trade and investment to new heights.

Ulusoy made the remarks a day after submitting his letter of credentials to Ethiopia's president, Dr. Mulatu Teshome, to head Turkey's oldest diplomatic mission to Africa.        

"With foreign direct investment that to date has stood at $2.5 billion, we are leading statistically," he said, pointing to Turkey being the largest investor in Ethiopia.        

Turkey's trade volume with Africa at end-2015 stood at $19.5 billion, he said. "We export $12 billion worth of goods while importing commodities valued at $7 billion."        

According to the ambassador, Ethiopia is Turkey's fourth-largest trading partner in sub-Saharan Africa. "We will make it soon number one," he pledged.        

Out of the $6 billion in Turkish direct investment in Africa, Ethiopia's share has stood at $2.5 billion, making the horn of Africa country the largest recipient of Turkish FDI to date.    
   
Ulusoy said Turkey has been very proactive in promoting longstanding cultural ties with Ethiopia through the Turkish Cooperation and Coordination Agency (TIKA).        

"We have two big restoration projects, the biggest in Tigray," he said, explaining that restoration of the Tomb of Al Nejashi in Wukro Woreda in Northern Ethipia's Tigray Regional State is set to wrap up this year.
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