Africans look for investors
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Hurriyet Daily News
OluÅŸturulma Tarihi: Haziran 30, 2009 00:00
ISTANBUL - The Common Market for Eastern and Southern Africa, or COMESA, formed by 19 countries, needs development in tourism, food products, energy and highway investments among many others, according to the trade minister of Kenya.
Amos Kimunya met with Rızanur Meral, the president of the Confederation of Businessmen and Industrialist of Turkey, or TUSKON, yesterday. There he urged Turkish businessmen to invest in COMESA, which includes Libya, Egypt, Sudan, Eritrea, Ethiopia, Uganda, Kenya, Burundi, Rwanda, Democratic Republic of Congo, Zambia, Zimbabwe, Malawi, Djibouti, Madagascar, Malawi, Seychelles, Comoros and Mauritius. Representatives from Egypt, Sudan, Ethiopia, Uganda, Kenya, Seychelles, Mauritius and Swaziland also attended the meeting.Â
"The main objective of COMESA is to attain sustainable growth and social progress in its members. It also aims to achieve social progress through increased cooperation and integration in all fields of development, particularly in trade, transport, production and marketing structures," said Kimunya. "COMESA is a suitable region for investments from all kinds of businesses such as, energy, textile, communication and many more."
Kimunya said the region is the largest regional economic community in Africa with a population of over 400 million and $2 million import and $82 million export potential. "In 2008, the total GDP of the area was $360 billion. It is also the fastest growing regional economy in Africa, with a growth of 7.8 percent in 2005 and 2006," he said.
COMESA has a great growth opportunity with the natural resources its members command, said Kimunya.
The country is also on major world trade routes such as the Suez Canal, Red Sea and Indian Ocean, he noted. "The region’s economic diversity offers opportunities for oil producers, mineral producers, agricultural producers, manufacturing and tourism."
"We need Turkish businesspeople to invest, bring you capital and use it in COMESA region," Kimunya said.
"There are over 100 investors from Turkey in Ethiopia. The textile sector is the largest sector that Turkish businesspeople are investing in. Food processing and leather processing are other suitable sectors," Dr. Mulatu Teshome Wirtu, Ethiopia ambassador, told Hürriyet Daily News & Economic Review, on the sidelines of the press conference.
"The main objective of COMESA is to attain sustainable growth and social progress in its members. It also aims to achieve social progress through increased cooperation and integration in all fields of development, particularly in trade, transport, production and marketing structures," said Kimunya. "COMESA is a suitable region for investments from all kinds of businesses such as, energy, textile, communication and many more."
Kimunya said the region is the largest regional economic community in Africa with a population of over 400 million and $2 million import and $82 million export potential. "In 2008, the total GDP of the area was $360 billion. It is also the fastest growing regional economy in Africa, with a growth of 7.8 percent in 2005 and 2006," he said.
COMESA has a great growth opportunity with the natural resources its members command, said Kimunya.
The country is also on major world trade routes such as the Suez Canal, Red Sea and Indian Ocean, he noted. "The region’s economic diversity offers opportunities for oil producers, mineral producers, agricultural producers, manufacturing and tourism."
"We need Turkish businesspeople to invest, bring you capital and use it in COMESA region," Kimunya said.
"There are over 100 investors from Turkey in Ethiopia. The textile sector is the largest sector that Turkish businesspeople are investing in. Food processing and leather processing are other suitable sectors," Dr. Mulatu Teshome Wirtu, Ethiopia ambassador, told Hürriyet Daily News & Economic Review, on the sidelines of the press conference.