Ethiopia, Austria Express Desire to Heighten Economic Ties

Addis Ababa: Ethiopia and Austria have reaffirmed commitment to deepen economic ties particularly in trade and investment spheres. Austria-Ethiopia Business forum held in Addis Ababa today with the aim to bolster the two countries' economic ties. Addressing the forum, State Minister of Finance Semerita Sewasew noted that strengthening the two countries' relations in trade and investment is vital. Over the past six years, Ethiopia has undertaken wide-range of reforms including the opening up of the telecom sector, banking sector, logistics and other sectors, she stated. The recently launched macroeconomic reform which is believed to resolve the foreign exchange challenges in the country also stated as the key factor for improving the business climate in the country and increasing in FDI inflow. The state minister reaffirmed that the government of Ethiopia remains committed to enhance the economic cooperation with Austria. Austria's Ambassador to Ethiopia, Simone Knapp stated the forum as a good opportun ity to bolster the economic cooperation between the two countries. For the Ambassador, Austria offers quality and skills, among others with its small and giant companies. The Austrian companies participated in today's forum include in health sector, and manufacturing, among others. Ethiopian Investment Commission Commissioner, Zeleke Temesgen said for his part that opening up of the new investment opportunities and the establishment of special economic zones are playing crucial role in changing the business climate and attracting FDI inflow in Ethiopia. He urged Austrian companies to engage in pharmaceutical, agriculture, agro-processing, mining, tourism and other areas. The Austria-Ethiopia business forum was organized in collaboration by Ethiopian Investment Commission and Austrian Embassy in Addis Ababa. Source: Ethiopian News Agency