Ethiopia president lays foundations of Turkish textile compound

The broadcast quoted President Teshome as saying that the Turkish compound would boost his government's industrialization drive.

Ethiopia president lays foundations of Turkish textile compound

World Bulletin / News Desk

Ethiopian President Mulatu Teshome on Tuesday laid the foundation stone of aTurkish textile compound in the African country.

The $175-million compound, meant to be the largest in Ethiopia, would feature four factories, the Ethiopian television reported.

The broadcast quoted President Teshome as saying that the Turkish compound would boost his government's industrialization drive.

According to the Ethiopian Chamber of Commerce, Turkish investments in Ethiopia hit $1.8 billion by the end of last February.

In recent years, many Turkish companies set their sights on Ethiopia for untapped investment opportunities, taking the volume of trade exchange from only $30m in 2006 to $400m in 2013, registering a 1,200 percent increase in seven years.

Last Mod: 29 Ocak 2014, 11:18
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