Ethiopia: Turkey Preparing to Create an Industrial Zone in Addis Ababa
He said a Turkish firm invested $50 million in Ethiopia in 2005 and there were now 341 Turkish companies with a total investment of $3 billion in the country. Turkish companies, he said, can now take advantage of numerous opportunities in fields such as construction and trade. And not just in Ethiopia. The Turkish Cooperation and Development Agency (TİKA) has 30 offices in Africa, and the Undersecretariat for Foreign Trade another 25. The number of Turkish ambassadors in Africa has risen to 34 from 12 in 2005.
It has Free Trade Agreements with four African countries, as well as agreements to prevent double taxation and support mutual investments, and has established business councils with 17 African countries. Turkish Airlines flies to 35 African destinations. The amount of Turkish aid to Africa, with Somalia topping the list, has reached US$750 million.