Ethio-South African Business Forum opens in Addis Ababa A three day Ethio-South Africa Investment and Business Forum opened on Tuesday (June 3) in Addis Ababa with representatives of over 25 South African companies involved in education, health, infrastructure, manufacturing and agro-processing taking part in the discussions on possible cooperation in trade and investment. In his welcoming address, Endalkachew Simie, Deputy Secretary General of Ethiopian Chamber of Commerce and Sectorial Association, noted that Ethiopia and South Africa had a longstanding bilateral relationship which has been strengthened by bilateral agreements in different areas including education, tourism and agriculture. In addition, he noted, imports and exports between the two countries have been growing in value and in volume. Mr. Endalkachew said the Forum would contribute towards increasing existing economic ties between the two countries. Mr. Stanley Subramoney, Chairman of the NEPAD Business Foundation, 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. Ethiopias Agriculture Minister, Tefera Deribew, stressed the Forum could help elevate existing Ethio-South Africa social, economic, and political relations to a higher level through fostering strategic economic alliances and solid business partnerships. He underlined the Ethiopian governments commitment to make the country a real destination for Foreign Direct Investment, emphasizing that the country enjoyed a conducive business environment, political stability, sound economic policies, and macro-economic stability. Mr. Fistsum Arega, Director General of the Ethiopian Investment Agency also noted the governments full support and the incentives available for investment in the priority sectors. He South African businesses to make use of Ethiopias quota-free and duty-free access to European and other markets.
Posted on: Tue, 03 Jun 2014 15:33:10 +0000
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