Ethiopia – Turkey trade exchange volume expected to reacch 500 million USD in 2010

Addis Ababa,  Ethiopia: May 11, 2010 РEthiopian Ambassador to Turkey, Doctor Mulat Teshome said the trade exchange volume between Ethiopia and Turkey expected to reach 500 million form 300 million US dollars this year.
In an exclusive interview with ENA on Tuesday, Ambassador Mulat said the trade exchange volume between the two countries was only 10 million USD on average in 2003-04 . The figure jumped to 100 million USD in 2005.

Though the trade exchange volume between the two nations had shown an accelerated growth until 2008, the global economic downturn had slowed the growth beginning 2009, Mulat said.

Ethiopia exports sesame and cereals to Turkey while it imports construction materials like that of steel and many other industrial products.

Concerning investment ties, the ambassador said there are dozens of Turkish investors who are engaged in investment activities in Ethiopia.

Some have already entered into production phases.