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Ethio-Turkey joint commission negotiates on FTA

Ethio-Turkey Joint Commission Negotiates On Free Trade Agreement

The Daily Monitor (Addis Ababa)

January 16, 2005

Our Staff Reporter
Addis Ababa

The 3rd session of the Ethio-Turkey Economic Commission has taken deliberations on Free Trade Agreement (FTA) negotiations before it wrapped up its meeting which lasted for three days beginning Tuesday.

Led by Turkish Minister of Transportation and Co-Chairman of the joint economic commission, Binali Yildirim, the Turkish delegation has submitted a draft text on FTA, on which it conferred with represented Ethiopian officials.

The delegation has also presented a proposal to resolve pending cases against absconding Turkish investor indebted millions of birr to local banks and textile factories he had leased here in Ethiopia.

Stating his acknowledgement to the inconvenience felt by the Ethiopian government regarding the issue, Yildirim has disclosed that the delegation would try to solve out the problem together with concerned Ethiopian officials.

Wogagen and United banks have already filed law suits against (the defendant) Atila Yalidrim for failing to service his loans amounting to several million birr, which the investor reportedly borrowed to invest in the textile factories he had leased from the Ethiopian Privatization Agency.