Ethiopia: New Zealand Keen to Engage in Ethiopia Renewable Energy Development

from left to right New Zealand FM Murray McCullly and Ethiopia FM Dr. Tedros Adhanom Foreign Minister, Dr. Tedros Adhanom met Murray McCullly, Foreign Minister of New Zealand on Thursday last week (October 1), in New York. Mr. McCully noted that since the signing of a food security partnership between the two nations in 2014, progress has been made in two aspects. Following the signing, Fonterra, New Zealand's biggest dairy company, had been working on forging a partnership with an Ethiopian company.

A memorandum of understanding had also been signed between New Zealand, the Gates Foundation and Global Goods on the sidelines of the General Assembly as an important step in providing for New Zealand to share its rich experience in dairy farming and help improve productivity of Ethiopian farmers. Minister McCully also underlined that New Zealand was interested in taking part in Ethiopia's renewable energy development.

Dr. Tedros stressed the need for signing agreements for investment protection and the avoidance of double taxation to encourage investment. Citing the four billion dollar geothermal investment of the Icelandic company, Reykjavik, Dr. Tedros underlined the major importance Ethiopia attaches to renewable energy production in its bid to build a green economy. He assured Mr. McCully that the Government would provide full support to New Zealand companies venturing to participate in Ethiopia's energy development. Dr. Tedros invited the Minister to visit to Ethiopia and he might include representatives of New Zealand businesses in his delegation to encourage investment in Ethiopia. The two sides agreed to work on draft investment guarantees and to sign agreements during the visit of Minister McCully to Ethiopia.

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