Addis Ababa December 18/2020 (ENA) The Ethiopian-Egyptian Business Council (EEBC) virtual meeting held on Thursday in Cairo with a view to strengthening the trade and investment relations of the two countries.
Ethiopian Government Officials and Business people from both countries have attended the meeting organized by the Ethiopian Embassy in Cairo.
In his opening speech at the occasion, Ethiopian ambassador to Egypt, Markos Tekle emphasized on the need to enhance the trade and investment cooperation between the two countries.
The ambassador expressed his conviction that an enhanced trade and investment could help develop trust and confidence among the people of the countries.
He also assured his determination to address the challenges that the business communities are facing.
The Managing Director of EEBC Eng. Ibrahim Qamar on his part highlighted the efforts made by the council in further cementing the trade and investment relationship between the two countries.
He also stated that the trade and investment potential of the two nations has not been fully exploited, and that there is a growing realization of the need to strengthen the relationship by pursuing a win-win approach.
The event entertained question and comments from the Egyptian Business Community in which they expressed the benefits of investment in Ethiopia, the existing trade relation as well as the challenges they are facing, it was indicated.
At the Event, Ethiopian Government Authorities from business sector addressed the major concerns, questions, and challenges raised by Egyptian business community.
Foreign Direct Investment promotion Director at the Ethiopian Investment commission, Aschalew Tadesse briefed participants about the new Ethiopian investment law.
Trade opportunities that the two countries could exploit ware identified during the meeting.
Multilateral Trade Relations and Negotiation Director at the Ministry of Trade and Industry
Mussie Mindaye made the remark on issues raised by Egyptian business community.
President of Ethiopian Chamber of Commerce and Sectoral Association, Eng. Melaku Ezezew deliberated on the trade opportunities in Ethiopia and Acting Director General of Trade and Tourism Promotion at Ministry of Foreign Affairs, Lealem Tilahun has also explained trade opportunities that the two countries could exploit.
Currently, there are more than 70 licensed Egyptian investors in Ethiopia besides a strong trade relation that exists between the two countries, according to Ethiopian Embassy in Cairo.