Turkey says it wants trade with Ethiopia to be more open for the benefit of both countries

The Turkish Ambassador to Ethiopia said recently that her country wants trade between the two countries to become more open for the benefit of both countries. She further added that this would mean measures on both sides to loosen restrictions and regulations on trade.

Recent reports indicate that Trade between the two stands at 650 million, however both affirm that they are aiming to hit the 1 billion USD mark. 

The trade policy request that Turkey is making, called a preferential trade pact, started in 2017. Efforts were initiated in order to ensure balanced trade between the two countries and is especially set to benefit Ethiopia’s coffee farmers and other agricultural manufacturers.

Ethiopia’s sesame market has recently been struggling as well, so such a trade dynamic, especially if replicated with other trade partners, might help the market achieve better stability than it recently has. 

Ethiopian Foreign Minister Demeke Mekonnen, who is also the country’s deputy prime minister, on Monday started a two-day official visit to Turkey. He already inaugurated a new building to house the Ethiopian Embassy in the capital Ankara.

Mena FN , AA

Leave a Reply

Your email address will not be published. Required fields are marked *