With possible free trade agreement with Ethiopia, Turkey eyes $20 bln in exports to Africa

Turkey will soon be launching talks with Ethiopia to sign a free trade agreement, State Minister for Foreign Trade Zafer Caglayan said on Wednesday. Caglayan, on an official visit to Ethiopia, made the remarks at a dinner given by Turkey's Ambassador to Ethiopia Kenan Ipek. He called his talks with Ethiopian officials positive, adding that both countries agreed on the need for a free trade pact to reduce customs difficulties. Caglayan said Ethiopian businessmen showed enormous interest in talks with their Turkish counterparts. "Many important business agreements have been signed between the two sides," he added. "We hope to boost Turkey's exports to Africa from $17 billion to $20 billion by the end of this year." Turkey currently has free trade agreements with 13 nations as well as with members of the European Free Trade Association (EFTA), a free trade organization of four non-EU member European states. Caglayan met with Ethiopian President Girma Wolde-Giorgis and Prime Minister Meles Zenawi to discuss the problems of Turkish businessmen investing in Ethiopia. Zenawi asked Turkey to establish an industrial zone in the country and in return, Turkish companies could get tax incentives and many forms of state support, said Caglayan.