Business

Australian companies eye on Ethiopia

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A high-level Australian delegation and representatives of companies and investors from Australia and New Zealand are in Addis Ababa with a very strong prospect of investing in Ethiopia and doing business with. This was emphasized in the Ethio-Australia round table business discussion held today (July 18, 2016), at the Ministry of Foreign Affairs of Ethiopia. The round table business discussion was organized with the expectation of boosting the economic ties between Ethiopia and Australia.

The event was attended by Ethiopian State Minster for Diaspora and Business Affairs, Ato Regassa Kefale, President of the Australian Legislative Council, Honorable Bruce Atkinson, Australian Ambassador to Ethiopia, Mark Douglas Sawers, high representatives of companies and investors from Australia and New Zealand companies along with the presence of other Ethiopian government ministries and the Ethiopian private sector.

In his key-note address, State Minster for Diaspora and Business Affairs, Ato Regassa Kefale told the visiting business delegation that Ethiopia offers attractive business and investment opportunities. The State Minister noted that the companies and investors could generate mutual benefits for the two countries by way of engaging in a range of sectors, which he said included manufacturing, textile, electronics, accessory, education, consultancy, engineering, agriculture, technology and system operation, mining and energy. He said, "I hope this Business round table discussion will result in more of Australian investment and companies from New Zealand coming to Ethiopia and thereby boosting the bilateral investment and trade ties." Australian and the New Zealand companies investing in Ethiopia can easily regain the competitive edge," the State Minister added.

President of the Australian Legislative Council, Honorable Bruce Atkinson said such platforms would have significant contributions in boosting the bilateral trade between Ethiopia and Australia. The President further said Ethiopia's economic growth, investment incentives and industrial parks have an immense potential to attract foreign direct investment (FDI).

Australian Ambassador to Ethiopia, Mark Douglas Sawers on his part said "Ethiopia and Australia enjoy more than half a century- long historic relations," while also emphasizing on the need to translate this link to foster the Ethio-Australian all rounded cooperation into new heights.

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