Ethiopian and Turkish Investors Strengthen Business Ties

A Business to Business (B2B) Meeting  was held between Ethiopian and Turkish investors, on May 6, 2015 at Sheraton Addis hotel.  The event organized by WAFA Marketing and Promotion Plc. in collaboration with the Turkish Electro Technology Exporters’ Association (TET) and the Commercial Counselor of the Embassy of Turkey in Addis Ababa, was attended by more than 27 Turkish and 100 Ethiopian companies. 

The event aimed at creating business ties between the business people of the two countries was also attended by dignitaries like Azeb Asnake, CEO of Ethiopian Electric Power and Ahmed Sevket, head of department at Turkish Ministry of Economy.  “Ethiopia has been registering a fast economic growth. Again the country has embarked upon massive infrastructure projects and these developments will help us to make a significant stride in terms of improving our cooperation,” said Azeb.

Representatives of the Turkish side also mentioned that they are increasingly becoming interested in Ethiopia because of its economic growth and investor friendly environment.

In a similar B2B meeting that was held in Turkey, Istanbul a week ago, the business communities of the two countries had established business ties. “During the event that was held in Istanbul, I had the chance to meet construction equipment suppliers and agreed to buy their products. Now I have started the process of importation,” said Michael Getaneh, Manger of Bokra Construction PLC. On that particular day when the event at Sheraton Addis was taking place, he was looking for more Turkish companies to work with.

With USD 3 billion investment, Turkish investors are the leading investors in Ethiopia in terms of investment capital. Similarly, the trade volume between the two countries has reached USD 450 million.

Zulfikar KiliC, commercial counselor at the Turkish Embassy in Ethiopia was asked by WAFA’s reporter, Why Ethiopia has become the leading Turkish investment destination in Africa? He replied “I think Ayka Addis has served as a model for other Turkish companies. Like any other countries’ investors, Turkish investors also want stable environment and I think Ayka Addis showed the business opportunities existent in Ethiopia for other Turkish companies.”

Ayka Addis is a vertically integrated subsidiary of Ayka Textile (Turkey based), which was founded in 1988 as a ready-made garment manufacturer and exporter. The company that joined Ethiopia’s textile manufacturing sector six years ago with an investment of USD 140 million has created more than 13,000 job opportunities.

In addition to manufacturing the relation of the two countries has expanded to infrastructure development works. Couple of Months ago, Turkey officially announced that it would give USD 300 million loan for Awash- Woldiya Railway project. The two countries are working together in the energy sector, as well. There are Turkish companies engaged in installing electric transmission lines and supplying transformers.

WAFA believes that the two events held in the two countries within a week period of time are the poster children of the flourishing relation between the two countries. It is also our strong believe that these B2B meetings will be translated into action and bring more investment in the near future.  

 

The Ethio-Turkish Business and Investment Forum was Held in Istanbul-Turkey on April 27 & 28, 2015

The Ethio-Turkish Business and Investment Forum jointly organized by WAFA Marketing and Promotion, Ethiopian Chamber of Commerce and Sectoral Association (ECCSA) in collaboration with the FDRE Ministry of Foreign Affairs, Embassy of Ethiopia in Turkey and the Turkish Ministry of Economy (DEIK) was held in Istanbul, Turkey, on 27 and 28 April 2015.

The Forum, which brought together top executives and key decision makers representing both the private and publics sectors aims to be the largest gathering of Turkish and Ethiopian economic movers and stakeholders. The summit brought together prominent business leaders and associations, government officials and business people who will discuss a range of issues on fostering investment and trade through B2B, B2G, market linkages and plenary sessions among others.

Delegates of over 60 private and public sectors comprised of Textile/garment, leather and leather products, manufacturing, chemical industries, construction, agriculture and agro-processing, electronics, pharmaceuticals, furniture selected in their business excellence and pertinent government ministries and institutions officials including the State Minister of FDRE Ministry of Foreign Affairs, H.E Dewano Kedir took part in the forum. The delegation was led by H.E. Ahmed Abitew, Minister , FDRE Ministry of Industry.

The primary objective of the Business and Investment forum was to attract Turkish investors in the above mentioned specific sectors. The forum was believed to strengthen the Turkish and Ethiopian private sector partnership. In addition to this, it provided a platform for public and private sector partnership, a policy dialogue with Turkish and Ethiopian decision makers. The business and investment forum  also showcases the new investment opportunities and potential market Ethiopia has to offer to the business community of Turkey.

The envisaged forum was part of the activities to promote Ethiopian business, investment, trade and tourism potentials in different parts of the world. Similar forums have already taken place in the USA, four times (2009, 2011, 2013,2014) , 2014, Italy (2012), UK (2011), India (2011), Japan (2013), Russia (2013), South Korea (2013) , and Germany (2014) Canada (2014) .

WAFA’s General Manager Takes Part in the Public Diplomacy Delegation

‘Public Diplomacy’ has become prominent in the new international system of the 21st century. In the era of globalization, instruments of public diplomacy enable the inter-state interaction by paving the way for economic, political and cultural cooperation and friendship to further build long-established relations among nations.

In the same vein, an Ethiopian public diplomacy delegation, comprising more than 70 renowned Ethiopians from different line of work departed to Cairo on December 15, 2014. On the eve of celebrating the New Year, the delegation, which was the first of its kind, marked the initiation to build a trust-based and harmonious relation between the people of the two nations through its 5-day visit.
The Delegation led by the Speaker of the House of Peoples’ Representative, Abadulla Gemeda, comprised religious leaders, academicians, former ambassadors, Members of the Parliament, Artists and other renowned personalities drawn from different walks of life.
WAFA’s General Manager, Mrs. Fantaye Getaneh, was part of the public diplomacy goodwill mission delegation.

Ethiopia Took-part as "Country of Focus" in the Greater Canada-Africa Business Summit 15-19, September,2014

Ethiopia Took-part as "Country of Focus" in the Greater Canada-Africa Business Summit  15-19, September,2014  

Canada-Africa Business Summit

The Ethio-Canada Business and Investment Summit,2014 (organized under the auspices of the larger Canada-Africa Business Summit,2014 which was held from 15-18 September,2014) was held at the Fairmont Royal York Toronto Hotel for half day on 15th September 2014. The summit was organized by Wafa Marketing and Promotion PLC and the Ethiopian Embassy to Canada. The FDRE Ministry of Foreign Affairs and Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA) are co-organizers of the summit. The Canadian Embassy to Ethiopia, Trade Facilitation Office-Canada (TFO-Canada) and Canadian Council on Africa(CCAfrcia) have been providing technical support for the success of the summit from the Canadian side.

The event, which was the first of its kind to be held in Canada, aims to be the largest gathering of the Canadian and African economic movers and stakeholders. The summit brought together prominent world experts, government officials and business people who discussed strategic topics for Africa's economic development such as construction, infrastructure and transport, agriculture and agri-business, education, natural resources and its financing.

As part of the larger Canada-Africa Business Summit, Ethiopia has already provided with the opportunity of taking part as a Country of Focus. This entitled Ethiopia and its representatives to have its own half-day  "Doing Business in Ethiopia Forum" session on 15 September,2014 that enables to showcase its opportunities to the wider Canadian market and African businesspersons through networking, B2B, joint venture and other viable means that fits to Ethiopian businesses. The half day session was held in a premium location at the summit hall in the presence of more than 300 participants including senior Ethiopian government officials as guest speakers and panelists of both the Doing Business Forum in Ethiopia as well as the greater Canada-Africa Business Summit sessions, more than 65 local businesses delegates selected in their business excellence and potentials comprised of petroleum and natural gas, mining, textile/garment, leather and leather products, coffee, construction and machinery, oilseeds, tour and travel, representatives of business associations as well as Canadian, African and other international investors. Read More

The 4th “Ethio-US Business & Investment Summit”

 After months of skillful preparations, the two states, Houston - Texas and Los Angeles - California are ready to welcome their guests.This forum is organized and structured with themes of promoting investment, foreign trade, and tourism. After coming a long way, the forum was commemorated in Houston in July 30, 2014 and Los Angeles in  August 1, 2014 .Therefore, the forum that was assembled in Houston was organized to bring giant companies in Texas and neighboring states which are closely affiliated and effective in working on agriculture, energy, and mining sectors.

In addition, higher institutions that are keen in working with Ethiopian Universities in areas of education and research was part of this forum. Furthermore,   the forum taking place in Los Angeles was organized by bringing forth multinational companies and sectors in the specialization of Agriculture, Information Communication Technology (ICT) and Tourism in California and neighboring states. This 4th “Ethio-US Business Forum” was considered as an important    platform for showing business and investment opportunities, creating the joint venture between Ethiopian business companies and American corporations though introducing Ethiopian products to the American markets. The “Ethio-US Business Forum” was hence organized in collaboration with the Ethiopian Embassy in US, WAFA Marketing and Promotion, Ethiopian Chamber of Commerce and FDRE’s Ministry of Foreign Affairs. The “Ethio-Canada Business Forum” is the next project WAFA is working on.

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