The Turkish Association of Independent Industrialists and Businessmen (MÃSIAD) is about to open a branch in Ethiopia, which will facilitate mutually beneficial relations between companies of the two countries, the association’s representative said on Wednesday. in Ethiopia.
OÄuz Atik told Anadolu Agency (AA) that the opening of the MÃSIAD office in Ethiopia, which is “in the process of obtaining legal certification by local authorities”, will improve business interactions and human-to-human transactions. Turkish and Ethiopian business and industrialists.
“The office would mainly help Ethiopian companies to become members and access the benefits of MÃSIAD, which is one of the largest associations in the world with over 11,000 members in 98 different countries,” he noted.
“Turkish companies would also be able to do business with Ethiopian companies.”
According to Atik, the association only accepts well-functioning, quality-oriented companies in order to provide quality guarantees and trustworthy business relationships among members.
âWe are confident that the MÃSIAD branch in Ethiopia will significantly improve the current level of business and investment between Turkey and Ethiopia,â noted Atik.
Turkey’s investments in Ethiopia currently stand at $ 2.5 billion (TL 20.42 billion). The annual bilateral trade between Turkey and Ethiopia amounts to $ 650 million. Ethiopia exports agricultural products to Turkey while Turkey exports machinery, steel and iron to Ethiopia. The governments of both countries have declared their readiness to increase annual trade volume by $ 1 billion.
As business and investment between Ethiopia and Turkey continues to grow, the need for business-to-business engagement has also grown exponentially, Atik said.
âFor this reason, as a pilot project, last month we took 24 Ethiopian businessmen to Ankara and our Ethiopian friends had a fruitful B2B engagement with the Turkish side,â he said, adding that a group of established Turkish businessmen would visit Ethiopia. this next July.
“The delegation includes 50 businessmen and industrialists representing the four main industrial cities of Turkey, Antalya, Konya, Kayseri and Gaziantep,” he said.