Italy-Ethiopia Business Forum: UNIDO values new investment opportunities in Africa

Milan - May 27th 2013

Italy-Ethiopia Business Forum: UNIDO values new investment opportunities in Africa

Milan, May 27th 2013. Socio-political and macro-economic stability, strong investment incentives and laws based on transparency: these are some reasons for investing in Ethiopia highlighted by the Business Forum. The event was held in Giureconsulti Palace and was organized by the Embassy of the Federal Democratic Republic of Ethiopia in Rome, in collaboration with the Ministry of Foreign Affairs, Promos - Milan Chamber of Commerce, Assolombarda and the Institute for International Political Studies (ISPI).

In the first part of the event, an institutional and business delegation, led by Mr. Sisay Gemechu, the State Minister of Industry, and other institutional Ethiopians representatives, outlined the economic and business opportunities offered by the African country in various sectors, such as food processing, leather, pharmaceutical, textile, metalworking, tourism, infrastructure, chemical, mining, distribution and marketing.

In the afternoon, a delegation of companies (30 italians and 30 ethiopians) participated in a series of meetings aimed at identifying some areas of industrial cooperation.

Ethiopia is a country which records high annual growth rates of GDP (6.5% in 2013, I.M.F. data) and whose products have preferential access to the EU, the U.S. and India markets. Some Italian companies have already invested in the Ethiopian market, getting very positive results: Tecnoservice Ltd, a trading company of Collebeato, has worked with this African country for over 20 years.

In line with Italy-Ethipia Business Forum, UNIDO ITPO Italy stimulates investment in support to SMEs in developing countries and facilitaties  a process of economic growth and development.