Industry Minister addresses the 5th Agri-Business conclave 2024 in New Delhi

Addis Ababa, February 28, 2024 (FBC) – The Embassy of Ethiopia in India in collaboration with the Diplomatist L.B, associated private limited, organized the 5th Agri-Business Conclave 2024 at the conference hall of the Embassy on February 28, 2024 under the theme “Transforming Agriculture: Global Partnerships for Sustainable Growth”.

Melaku Alebel, Minister of Industry of Ethiopia, made a keynote address with special emphasis on investment opportunities of the agricultural sector in Ethiopia.

While addressing the Conclave, Melaku underscored the pivotal role of agriculture as the backbone of Ethiopia’s economy, contributing a substantial 34% to the GDP, engaging 66% of the workforce, and driving 76% of export value.

Expounding on Ethiopia’s vast agricultural potential, the Minister elucidated on the availability of fertile soils, favourable climates, and abundant water resources, with 36 million hectares of arable land and a diverse range of climates and topographies as well as integrated agro industrial parks, which makes Ethiopia a veritable gold mine for agricultural investment ready to be cultivated to its fullest extent.

Describing Ethiopia’s notable achievements as the third-largest producer of wheat in Africa, the third-largest producer of Arabica beans, the 6th largest livestock population, and the 9th largest producer of sesame globally, the Minister also accentuated the untapped potential in sectors such as wheat, cotton, poultry, animal feed, fruits and vegetables, cereals, pulses and agro-processing.

The Minister also gave further explanation on opportunities and incentive packages on specific sectors such as agricultural chemicals and seeds production, fertilizers, agricultural mechanization and tractor assembly, sugar plantation and large and commercial farming, while replying to queries by the participants.

Concluding his remarks, to the Minister extended invitation to Industry leaders in agricultural sector to capitalize on the myriad opportunities within Ethiopia’s agricultural sector and reaffirmed the government’s unwavering commitment to creating an investment-friendly environment to ensure their investment a grand success.

The event was attended by more than 60 Ambassadors, Industry leaders, agro-machineries manufacturers, agro- researchers and representatives of chambers of commerce and industry.