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Ethio-EU business forum opens in Brussels

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Addis Ababa, May 14, 2019 (FBC) – Hosted by the European Commission, the Ethio-EU business forum opened in Brussels, Belgium today.

The two-day event brought together European investors that have shown interest to investing in Ethiopia, said Abebe Abebayehu, Commissioner of Ethiopian Investment Commission (EIC).

Participants from the Ethiopian private sector are also in attendance, he added.

In his opening remark, Mr. Jyrki Katainen, Vice President of the European Commission, noted that Ethiopia is EU’s strategic partner.

He called on investors to explore investment opportunities in Ethiopia as well as highlighted that EU has allocated significant funding for external investment.

Applauding Ethiopia’s success in being one of the largest recipients of foreign direct investment (FDI) in Africa, Mr. Jyriki, urged the government to expedite Ethiopia’s accession to the the World Trade Organization (WTO).

He noted that the rules based system will provide further certainty and guarantee to the market access investors enjoy.

According to the Commissioner, executives from Volkswagen and Unilever discussed the vast opportunities Ethiopia avails as an investment destination.

Big market, abundant and competitive labour, huge potential for local sourcing of raw materials highlighted as pull factors for investing in Ethiopia, he said.