Ethiopia Saudi Arabia AgreeAddis Ababa November 21/2016 Ethiopia and Saudi Arabia have agreed to boost their cooperation in trade and investment. 
Prime Minister Hailemariam Dessalegn is on official visit in Saudi Arabia for talks on bilateral issues.

On arrival the premier was warmly welcomed by Crown Prince Mohammad bin Nayef bin Abdulaziz Al Saud, First Deputy Prime Minister and Minister of Interior of Saudi Arabia. 

The prime minister and the high-level delegation he is leading had held discussion with prominent Saudi officials about economic, trade, and investment as well as security and regional issues. 

Despite the longstanding relations between the two countries, trade and investment relations are not at the desired level, it was indicated.
Hailemariam has called on Saudi business persons to invest in Ethiopia in particularly agriculture, cattle rearing and fattening, leather and leather products, among others.

Read more at: http://www.ena.gov.et/en/index.php/politics/item/2305-ethiopia-saudi-arabia-agree-to-bolster-relations  

Ethio Algerian business(EBC; November 21, 2016) - An Algerian-Ethiopian Business Council will be set up in early 2017 in order to boost economic exchanges and partnership in various areas, said Hadef Abderrahmane, the representative of the Algerian Chamber of Commerce and Industry (CACI), on Tuesday in Algiers.

The creation of the Council is provided for by a memorandum of understanding that will be signed during the visit of Algerian businessmen to Ethiopia, at the initiative of CACI, in the first quarter of 2017, said Hadef at a seminar on Ethiopian market.

"We seek to enhance the economic cooperation up to the level of the political and diplomatic relations linking our two countries," added the CACI representative, who is also the head of Titteri Chamber of Commerce and Industry (Medea).

"The trade volume between the two countries is very low, it does not exceed US2 million," he deplored.

During the visit, the Algerian delegation will examine investment and business opportunities in several sectors, including food-processing, building material and engineering industries, as well as energy.

For his part, Ethiopian Ambassador to Algeria, Soloman Abbe, invited Algerian businessmen to invest in Ethiopia in view of the different incentives and tax facilities in the country, adding that "the Ethiopian economy has recorded an average growth rate of 10.2% over the past twelve years."

Ethiopia has huge potential in leather, textile and pharmaceutical industries, he said.

He also invited Algerian operators to seize investment opportunities in the field of agriculture in Ethiopia, which is a leading producer and export of coffee and sugar.

Source: Algeria Press Service

morocco king2Addis Ababa November 19/2016 Ethiopia and Morocco have signed an agreement providing for the joint development of an integrated fertilizer production plant worth 2.5 billion USD.

Prime Minister Hailemariam Dessalegn and King of Morocco, His Majesty Mohammed VI presided over the agreement signing ceremony at the National Palace here today.

OCP Group Representative on Moroccan side and Ethiopia's Minister of Public Enterprises inked the agreement, with other higher officials and business persons accompanying the leaders from the two countries at the event. 

The two sides also concluded 13 various Memoranda of Understanding (MoU) and other agreements.

The Moroccan OCP Group, a global leader in the phosphate industry, will construct the plant at the Dire-Dawa Industrial Park with expected due year of 2022.

According to OCP Group Representative in Ethiopia, Faycal Benameur, the new fertilizer complex will produce 2.5 million tons of fertilizer per annum in its first phase starting from 2022.

Read more at:   http://www.ena.gov.et/en/index.php/economy/item/2299-ethiopia-morocco-agree-to-set-up-giant-fertilizer-plant

Two industrial parksAddis Ababa November 17, 2016 The Kombolcha and Mekele industrial parks will be ready for companies after two months, since their construction will be completed in February, the Industrial Parks Development Corporation (IPDC) said.

In an exclusive interview with ENA, Deputy CEO of IPDC, Amare Asgedom said construction of factory shades in the two industrial parks will be completed in February.

“Basements for the construction of shades in Mekele and Kombolcha indudtrial parks have been completed and fabrication process in progress to ultimately deliver the shades to the investors,” he said.

Upon going operational, the parks which consume 250 million USD will create jobs for more than 50,000 people, he added.

The Kombolcha and Mekele industrial parks are among the 10 parks the government has set target to build within five years.

Read more at: http://www.ena.gov.et/en/index.php/economy/item/2254-two-industrial-parks-will-be-ready-for-investors-by-february  

morocco kingAddis Ababa November 19/2016 Moroccan investors, who accompanied the country's King Mohammed VI to Ethiopia, have said they are willing to do business in Ethiopia in various sectors including agro-processing.

Moroccan King Mohammed VI was in Ethiopia accompanied by a 43-person delegation of Moroccan investors for the official state visit to the country.

In an exclusive interview with ENA, TEA Packing and Processing Company (SITI) President, Amine El Baroudi indicated the vast investment opportunity in Ethiopia and in the continent which is home to huge population and potential in agro-processing.

Africa is endowed with a huge raw material bulk exported without value addition; the President said urging African nations to work hand in hand in penetrating the international market with value added products.

President of Moroccan Agency for Solar Power (Masen), Mustapha Bakkoury, on his part said they will establish better linkages with Ethiopian institutions through the meeting they had during their visit to the country.

Read more at: http://www.ena.gov.et/en/index.php/economy/item/2301-moroccan-investors-willing-to-invest-in-ethiopia