Ethiopia & UK to strengthen business ties

Category: Trade 0 1

Addis Ababa, March 27 (WIC) – Business delegates from United Kingdom on Monday held a discussion with Ethiopian counterparts to explore business opportunities in the two countries.

A total of 10 business venture representatives from London, part of the 60 business delegates who are on similar mission in Uganda and Kenya, have met with more than 30 business companies in Addis Ababa.

Speaking at the opening, Teferi Asfaw, Deputy Secretary General of Addis Ababa Chamber of Commerce and Sectoral Associations, said the delegates represent useful firms based on the prime focus in the framework of Ethiopia’s Growth and Transformation Plan.

“The discussion promotes the development of knowledge, information flow, skills and transfer of technology; strengthening confidence of bargaining; removing business barriers and safeguarding the win-win situation between the two countries,” Teferi said.

Ruma Deb, World Trade Executive of London Chamber of Commerce, similarly stated that the discussion helps both parties to exchange ideas regarding business opportunities in the two countries.

“Ethiopia as being an important business partner for Britain, there is a lot opportunity the two countries may cherish,” Deb said.

The foreign direct investment flow from Britain has shown remarkable growth that several companies are investing in Ethiopia.

The discussion is the second of its type after the two chambers signed memorandum of understanding last year. The organizers expect to achieve some objective results in terms of attracting businesses into Ethiopia.

“The delegates have diverse plans to engage in businesses like education, medical supplies, chemicals and hi-tech equipments,” Semhar Habtezion, an international trade advisor for London International Trade team, said.

Semhar Habtezion, an international trade advisor for London International Trade team,  states that the delegates have diverse plans to engage in businesses like education, medical supplies, chemicals and hi tech materials. She adds that, Ethiopian firms benefit from the discussion that it creates an opportunity for the two to work together. She says the delegates in Addis are part of the 60 business delegates who are on similar mission in Uganda and Kenya.

Tesfay Berhane, one of the mission participants from London, also sees a big potential market for Ethiopia’s fresh fruits and vegetables in London.

Both parties are optimist about a positive outcome from such discussions with business to business meetings being held on the sideline.

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