Ethiopia has hosted over 40 business to business meetings with companies arriving from about 35 countries during the last two years, according to Addis Ababa Chamer of Commerece and Sectoral Associations.
More than 1900 local businesses have been able to participate in such bilateral exchanges with other countries.
Communication Director with the Chamber Kassahun Mamo told The Ethiopian Herald that Companies from the Netherlands, Germany, Denmark, Italy, United Kingdom, Belgium, Switzerland, Czech Republic, Turkey, India, UAE (Dubai), China, South Africa, France, Canada, Greece, Luxemburg, Slovenia, USA, Kenya ,Hungary and Sweden are among the visitors from the all corners of the world.
Inflow of Foreign Direct Investment from the European countries is less than expected and of course, from those countries in Asia. However, incoming business delegations from Europe is now increasing recently. There are reasons why European countries consider organizing an economic mission in this country, in the context the African continent is a priority for the European companies in the years to come via Ethiopia, according to Kassahun.
“For our European partners, Addis Ababa is considered as reaching point for more than 53 lumps (countries) of African market. That is why Ethiopia has long been an appealing destination for foreign firms looking to operate recently. More than 1900 local businesses have been able to participate in such bilateral exchanges with other countries.”
One of the factors that limit the countries export to the more sophisticated EU markets is the stringent quality standards of the market and the underdeveloped business linkages between Ethiopian and European companies, he reiterated.
The chamber believes that this kind of business to business meetings and networking are depicting the true picture of Ethiopia and its massive investment opportunities. These events can also initiate and build joint business and investment relations and help to change the hither to low level of EU companies’ involvement in business and investment in Ethiopia.
The Chamber has also called on foreign companies to taste the opportunities in the ever growing Ethiopian market.