ADDIS ABABA – Gulf companies participated in Ethiopia International Trade Exhibition are so engrossed in exploring potential market opportunities in the country and they have reached agreements with local business people to work as agents and in joint ventures. Companies drawn from the United Arab Emirates (UAE), Saudi Arabia, Qatar, Oman and Bahrain, who displayed their products in the threeday exhibition at Millennium Hall last week, told The Ethiopian Herald that they are ready to do business in Ethiopia.
Rashed Alalem, Business Development Executive with UAE company Aqua Gas Plastic Industries said that the boost in Ethiopia’s construction sector encourages the company to discover the business climate here. The executive indicated that the company conducted feasibility studies before choosing Ethiopia to stage the exhibition and has found its market attractive for its products.
“We have done a full market study about the potential for our products in Ethiopia and we found that there is a very promising demand for our gas and plastic products that is why we chose to come to here.” He noted that the company witnessed successful business-tobusiness meetings with Ethiopian business people and some of them signed agreements as well.
Neeraj Pavoor, Key Account Officer of Saudi based Technopanel Mining and Diversified Metals Company, said for his part that the company considers Ethiopia’s massive economic growth and the boom in the construction industry favorable for its exports. The officer, who claimed the company is among the largest steel manufacturers in the Middle East, stated that they are making contacts with Ethiopian business people to enter into the country’s market.
Noting Ethiopia’s huge trade and investment relations with Saudi Arabia, he said that the government and other stakeholders need to work in concert to enhance the country’s ease of doing business to attract more investors from the Gulf Cooperation Council. Hariprakash Maiyurjothiprakash, Sales and Marketing Manager of Qatar National Aluminum Panel Company also said his company understands Ethiopia’s huge demand for aluminum products and held discussion with Ethiopian stakeholders to take part in the market.
“We are among the leading aluminum factories in Middle East and we are here to look for the distributor and agent as Ethiopia is our new market target and we want the country to be a hub for our aluminum products in the East African market.” By the same token, Marketing Manager of Oman based Jazeera Steel, Deepak Singh pointed outthat the company has a plan to access the East African market by using Ethiopia as a getaway, saying: “We are here to find a partnership or to find an agent for our products to be distributed in Ethiopia and othernearby countries.”
Consultant of the Bahrain based Gulf Membrane and Coating industries, Engineer Sad Nofan said that the company finds Ethiopia’s market favorable for its products and the discussions with Ethiopian businesses persons are also fruitful in encouraging the firm to invest in the country.
Engineer Sad also expressed optimism that the growing trade relations between Ethiopia and the Kingdom of Bahraincould facilitate the establishment of diplomatic missions in the respective countries. Trade and Industry State Minister Misganu Aregasaid that Ethiopia is working to attract more foreign companies to come and do business.
According to the state minister, Ethiopia’s manufacturing industry attached huge government attention and it is projected to take the lead on exports.Foreign compnies encouraged to engage in textile and apparel, leather and leather products, footwear and other manufacturing fields. He noted that the country has given different incentives to investors in the sector including tax holidays, duty exemption on imported goods and access to land.
Special emphasis is also given to the development of industrial zones and clusters to facilitate ease of entry for investments and operation of business. Numerous foreign companies engaged in building and construction, mining, food, and other sectors took part in the exhibition that was being held in March 21-23rd November 2019.
The Ethiopian Herald, March 26/2019
BY BILAL DERSO
