Ethio South African Investment Forum Opens in Addis

A three day Ethio-South Africa Investment and Business Forum opened on 3 June 2014 here in Addis Ababa aimed at increasing existing economic ties between the two countries.

Representatives of over 25 South African companies involved in education, health, infrastructure, manufacturing and agro-processing are discussing on possible cooperation with Ethiopians in trade and investment.

Director General of the Ethiopian Investment Agency, Fitsum Arega noted that the government’s full support and the incentives available for investment in the priority sectors.

Ethiopia’s Agriculture Minister, Tefera Deribew stressed the Forum could help elevate existing Ethio-South Africa relations to a higher level through fostering strategic economic alliances and solid business partnerships.

He underlined the government’s commitment to make the country a real destination for Foreign Direct Investment.

Tefera also emphasized that the country enjoyed a conducive business environment, political stability, sound economic policies, and macro-economic stability.

He called up on South African businesses to make use of Ethiopia’s quota-free and duty-free access to European and other markets.

Chairman of the NEPAD Business Foundation, Mr. Stanley Subramoney said Africa was at a critical juncture and the continent currently provided a new edge of opportunities.

He noted that intra-Africa trade was increasing and pushing back the frontiers of poverty.

Ethiopia and South Africa had a longstanding bilateral relationship which has been strengthened by bilateral agreements in different areas including education, tourism and agriculture.

It is indicated in the discussion that imports and exports between the two countries have been growing in value and in volume.

Source: Ethiopian Ministry of Foreign Affairs.

Source : Ethiopian Radio and Television Agency

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