Deputy Premier Says Ethiopia Working for Continental Economic IntegrationEthiopia will continue exerting efforts to create a strong continent-wide economic integration in order to ensure peace and stability in Africa, Deputy Prime Minister Demeke Mekonnen said.

He made the remark at a roundtable discussion held by African leaders under the theme “Peace Building of Africa” at Davos, Switzerland.

During the discussion, the deputy premier stated that “Ethiopia will continue its efforts to create a strong economic integration and ensure sustainable peace and stability in continent.”

Furthermore, Demeke reaffirmed that Ethiopia will maintain peaceful atmosphere and stable economic relations among East African countries that have registered promising results.

The country has strong commitment to overcome obstacles that faced its ongoing reforms and to secure peace, the deputy prime minister noted.

At the discussion, the leaders also emphasized the need for ensuring peace and stability and economic integration the continent requires.

The peace created between Ethiopia and Eritrea and its results in building stable region was presented as good experience during the discussion.

The leaders have agreed that other African countries should also learn from Ethiopia’s experience and stressed the need to work.

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Ethiopian Coffee Promotion Conference Opens in IsraelThe Ethiopian Embassy in Israel opened a coffee promotion event in Tel Aviv yesterday, 2020.

Coffee producers, traders and exhibitors from Ethiopia have participated in the event intended to promote Ethiopian coffee in Israel.

The event included a discussion and business-to-business sessions accompanied by the unique Ethiopian coffee ceremony.

Ethiopian Ambassador to Israel Reta Alemu delivered an opening speech underlining the unique features of Ethiopian coffee.

Given the long-standing historical relations and geographical proximity of the two countries, Ethiopian coffee should have had a better market share in Israel, the ambassador said.

The event was attended among others by Amb Yahel Vilan, Director of East and Southern Africa at the Ministry of Foreign Affairs of Israel, Belaynesh Zevadia, ex-amb of Israel to Ethiopia and members of Israeli parliament (the Knesset).

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High Level Ethiopian Sudanese Officials Discuss on Port ServiceMinister of Transport, Dagmawit Moges, held talks with Sudanese Undersecretary of the Ministry of Infrastructure, Omar Ahmed Mohammed and Director General of Sudanese Sea Ports Corporation, Captain Onour Mussa, on issues of port service and utilization.

Accordingly, Sea Port Corporation of Sudan will provide all the necessary support for Ethiopia to use the Ports of Sudan for its import-export commodities.

Moreover, the corporation will offer back-office for Ethiopian Shipping and Logistics Service Enterprise in order to facilitate the import of fertilizer which is expected to be delivered shortly.

The two parties also agreed to establish a technical committee to smooth the progress of the port service, it was indicated.

The agreement includes implementing the 2003 pledge by the government of Sudan to offer 875,000 square meter area of land close to Port Sudan for Ethiopian logistics service, ENA reported.


Happy New Year 2020The New Year is the new beginning of new ventures and new projects. Ethiopia is among the few fastest growing economies in the world and thus the country has now become a preferred foreign direct investment (FDI) destination in Africa.

According to the recent UNCTAD report, the country takes the leading position in East Africa and ranked 5th on the continent in attracting foreign direct investment.

It is crystal clear that Ethiopia has a wide variety of untapped resources and huge investment potentials in various sectors such as manufacturing (textile & garment, leather & leather products, pharmaceuticals), agriculture, agro-industry, mining, tourism and other service areas.

With a view to attracting more FDI, the construction and expansion of state-of-the-art industrial parks have also been carried out by the Government and private developers across the country.

As 2019 draws to a close and with the start of a new decade on the horizon, the Ethiopian Investment Commission (EIC) wishes all a very Happy New Year. May the New Year bring you all happiness, peace, and prosperity. Wishing you a joyous 2020!

Smart companies invest in Ethiopia!!

EIC Public Relations Directorate

2020 Historic Year for China and Ethiopia Chinas AmbassadorChina’s Ambassador to Ethiopia Tan Jian said that 2020 would be a historic year for both China and Ethiopia.

Briefing journalists, China’s Ambassador to Ethiopia Tian Jian said China wants to further strengthen its relations in multifaceted spheres, including hi-tech, agricultural transformation, trade and tourism.

The ambassador stated that his country will continue to solidify its support to transform the agriculture, livestock, trade and tourism sectors in the upcoming year, ENA reported.

Speaking about the potential and prospect of the cooperation of the countries, Ambassador Jian said: “I used to say “the sky is the limit”; now with the successful launching of the Ethiopian satellite, I would say “the space is the limit.”

According to the ambassador, the bilateral pragmatic cooperation in the economic front has achieved remarkable progress. “China has consolidated its position as Ethiopia’s largest trading partner and source of investment,” he noted.

Ethiopia approved over 140 FDI projects from China from January to October 2019, registering over 12 percent year-on-year increase and accounting 60 percent of Ethiopia’s newly-approved FDI.

On Chinese engagement in business, the ambassador said: Chinese investors have engaged in various sectors like textile, pharmaceuticals, building materials, steel, ceramics and bamboo paper pulp, among others.

Besides, “Chinese companies are working on the oil and gas project in Somali region, on the Aviation Industry City Project in Bishoftu of Oromia region, on the Addis Ababa Bole International Airport Expansion Project, Addis Ababa Power Network Rehabilitation and Upgrading Project, and Addis Tomorrow Project, to name few.”