2nd Ethio-Brazil Trade and Investment Forum
The Embassy of Ethiopia in collaboration with WAFA Marketing and Promotions PLC and World Trade Center organized the 2nd Ethio-Brazil trade and investment forum, aiming at further strengthening the business ties between the two countries.
The forum attracted broad-mix of companies from various sectors which have also created an opportunity to business networking. It paved a way to network Ethiopian and Brazilian companies that are engaged in agro industry and agriculture, construction, leather and leather products, and, textile and garment/apparel industries.
H.E. Amb. Yalew Abate, Ethiopian Ambassador to Brazil briefed participants about the business opportunities and potentials of Ethiopia in the identified promising sectors such as agriculture, agro-processing, textile, leather & leather products, renewable energy, mining, and construction. The Ambassador further explained about the current economic development and reform undertaken by the Government of Ethiopia. Currently, Ethiopia is actively improving the investment climate through the adoption of more efficient bureaucratic processes in the areas of business registration, logistics, and tax administration schemes.
Over the last decade, improvements in the investment environment and the incentive packages offered by the Government have increased the inflow of foreign direct investment (FDI) especially in the manufacturing sector. Instantly, Ethiopia is becoming one of the prime destinations for foreign direct investment. Mr. Zemedeneh Nigatu, Global chairman of Fairfax Africa Fund has presented why Brazilian investors should engage in doing business in Ethiopia and encouraged them to work with Ethiopian investors in joint ventures. The strategic location of Ethiopia, tax incentives offered by the government and improved infrastructure is attracting investors to do business in the country.
Brazilian Companies that have already invested in Ethiopia have also shared their insights on doing business in Ethiopia. Ms. Natalia, the representative of Standard Bank, one of the largest private banks in Africa and Mr. Lucas, CEO of CBA Sementes, a company engaged in increasing the quality and quantity of potato production, have shared their experiences in establishing a business in Ethiopia. Business to Business (B2B) discussions was also organized at the forum, which have paved a way to strengthen ties among Ethiopian and Brazilian business owners.
The outstanding diplomatic relations and bilateral agreements between the two countries have tremendous importance to realize the respective comparative advantages. Given the growing investment and market opportunities of Ethiopia and the relationship that existed for long time between the two countries, Ethiopia believes that this relationship could be far more extensive.