Number of Italian Companies in Ethiopia to Grow in Coming Years: ITA Head

Addis Ababa, June 14, 2023 (FBC) – There are currently around 150 Italian companies operating in Ethiopia, and that number is expected to grow in the coming years, the head of the Italian Trade Agency (ITA) in Ethiopia, Riccardo Zucconi, said in an interview with Ethiopian News Agency (ENA).

According to him, the country’s strong economic growth, strategic location in the Horn of Africa and its large and growing middle class are the reasons for the increasing interest from Italian businesses.

“The Ethiopian middle class is constantly growing,” the head said, adding that Italian companies are well-positioned to meet this demand.”

Zucconi expects to see more Italian companies investing in Ethiopia in the coming years.

Ethiopia is a very promising market for Italian businesses, and it has a lot to offer, he stated. “We are confident that we can continue to grow our relationship with Ethiopia in the years to come.”

He further pointed out that the recent participation of 6 Italian companies in the international agro-food, plastic printing and packaging trade fair in Addis Ababa as an example of the growing interest from Italian businesses.

Last May also brought over 30 Italian companies to Ethiopia for the construction show here.

These were great opportunities for Italian companies to showcase their products and services to the Ethiopian market, the head noted.

Our companies were happy to be here as they saw the market is ready for their products and materials, he stated.

Moreover, Zucconi believes that there is a lot of potential for collaboration between Italian and Ethiopian businesses.

The head pointed out that “we are committed to working with our Ethiopian partners to build a stronger and more prosperous relationship between our two countries.”

The Italian Trade Agency is a governmental agency that supports the business development of companies abroad and promotes the attraction of foreign investment into the country.