Bavaria Keen to strengthen Economic Cooperation with Ethiopia

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Addis Ababa April 15/2019 Bavaria is keen to strengthen its cooperation with Ethiopia and open up new business opportunities and bring companies and scientific undertakings, Bavarian State Minister for Economic Affairs Roland Weigert said.

The German business delegation of 60 companies led by Weigert held discussion with representatives of the Ethiopian Chamber of Commerce and Sectoral Associations today.  

During the discussion, Vice Minister Roland Weigert said his state has interest to strengthen its existing cooperation with Ethiopia in areas of power engineering, infrastructure, machinery, agriculture, medical and environmental engineering.

“Ethiopia offers the strongest economic growth in East Africa, making it one of the most important markets for middle-sized companies,” he added.

Weigert stated that Bavaria strongly supports the Ethiopian government’s comprehensive development with targeted investments in education and health.

Ethiopian Chamber of Commerce and Sectorial Associations General Secretary, Endalkachew Sime said on his part the association is a gateway for German companies, providing dependable information and sharing experiences of investment in the country.

He added that recently, investments on infrastructure, power and manufacturing sectors are looking for better technology which German companies need to consider as opportunity.

Local investors are ready to support and work with German companies in different areas of investment, Endalkachew stated.

Investment Deputy Commissioner, Hanna Arayasellassie said the Government of Ethiopia is very committed to support foreign and domestic investors to promote quality investment in the country.

Companies can invest in the country in different sectors like infrastructure, manufacturing, ICT, tourism and industrial parks, she added.

Memorandums of Understanding were signed to enhance relation in technology, education, health and entrepreneurship at Ethiopia and Bavaria Economic Forum.