UK investors urged to deepen economic ties with AfricaThe 2020 UK-Africa Investment Summit was attended by Mauritanian President Mohamed Ould Cheikh el Ghazouani and Egyptian President Abdel Fattah el-Sisi.

British companies must leap at the chance to deepen economic ties with Africa, a continent with unmatched investment opportunities, several African leaders said at a high-level panel.

An opening ceremony for the 2020 UK-Africa Investment Summit on Monday was attended by dignitaries and delegates from 16 African countries, including Mauritanian President Mohamed Ould Cheikh el Ghazouani and Egyptian President Abdel Fattah el-Sisi. 

Mauritania’s president highlighted the opportunities offered by the blue ocean economy and substantial reforms currently under way to attract foreign investors. “We have reinforced security along our coasts. Other measures include the establishment of a Council on Investment. These huge efforts are showing tremendous results and it is giving comfort to investors,” said Ghazouani.

British Prime Minister Boris Johnson made the case for bigger investments in Africa and called for increased and renewed partnership between the United Kingdom and Africa. 

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Ethiopia Resumes Talks to Join WTOAfter eight years, Ethiopia has resumed discussion to join the World Trade Organization (WTO).

Mamo Mihretu, Senior Advisor and Chief Trade Negotiator at the PM office, met with WTO Director General Roberto Azevedo in Geneva, Switzerland.

The two discussed ways to expedite the process in Ethiopia’s longstanding efforts to be part of the multilateral trading system.

Last June, Prime Minister Dr Abiy Ahmed established a 10-member national committee to resume the negotiation.

Chaired by Mamo, members of the committee were drawn from PM office, Foreign Affairs, Revenues, Finance as well as Trade and Industry ministries.

Moreover, representatives from the National Bank of Ethiopia (NBE) and the National Planning and Development Commission were included in the committee assigned to resume the talks.

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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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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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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