Turkey’s YISAD expresses to extend steel business in Ethiopia

Addis Ababa, April 2, 2021 (FBC) – Consul General of Ethiopia in Istanbul has briefed Turkish Flat Steel Import-Export Association (YISAD) representatives on investment opportunities in Ethiopia.

Wondimu Gezahegn, Consul General of Ethiopia in Istanbul, held discussions with Ahmet Soybas, General Secretary of Flat Steel Import-Export and Industry Association (YISAD), and Tuncoy Sergen former President of the Association, about business opportunities in Ethiopia.

The two sides exchanged views on areas of cooperation that the consulate and the association could work on for mutual benefits.

Wondimu explained the existing investment and trade opportunities in the steel manufacturing sector in Ethiopia.

A discussion was made focusing on Ethiopia’s priority areas of investment, the conducive environment for Foreign Direct Investment, Market opportunity, Incentives given by the government, and the government’s commitment towards investment.

The association was founded in 2003 and covers 40% of the steel manufactured in Turkey.

It is active in manufacturing steel tubes, steel sheets, pipes, cutting and shaping steel, flat steel products.

Ahmet for his part expressed the keen interest of the association to extend the steel business in Ethiopia’s market by using innovative production techniques and its superior experience.