May 11/2021(ENA) The Ethiopian Chamber of Commerce and Sectorial Association (ECCSA) signed a Memorandum of Understanding (MoU) with American Chamber of Commerce in Ethiopia (AMCHAM) with a view to further strengthening business diplomacy between the business communities of the two countries.
Ethiopian Chamber of Commerce and Sectorial Association Secretary-General Yesuf Ademnur and American Chamber of Commerce in Ethiopia President Ermias Eshetu signed the MoU today.
The partnership agreement will provide the platform for both chambers to coordinate their effort to promote trade and investment between Ethiopia and U.S. business community.
During the signing ceremony, ECCSA Secretary-General Yesuf Ademnur said the agreement would enable both chambers to collaborate and address challenges that might be encountered by the private sector in the country.
The chambers will also work on exchange of information, capacity building, knowledge sharing, and conduct researches, promote trade and investment, he pointed out.
AMCHAM President Ermias Eshetu on his part said the agreement between the chambers will help enhance business diplomacy between the private sectors of Ethiopia and the United States.
The president commended reforms being undertaken in Ethiopia to attract foreign investments and stressed the need to implement the reforms effectively.
The U.S. investment in Ethiopia is minimal due to solvable challenges.
The U.S., constituting for over 52 percent of investment capital in the world, has 50 member companies at its chamber in Ethiopia.