One of the commitments that countries make as a means to have chained as well as developed economy is creating trade and investment relations with different countries. However, the probability of the trade relations being imbalance may put countries in awful situations.
Ethiopia, due to its peaceful and conducive investment environment, is one of the favorable countries in Africa for trade and investment destinations. China, as it is amongst the primary financial partners and supporters of the nation mega projects as well as infrastructures, more than one hundred thousand citizens are employed through its 400 companies.
Recently, the third China Trade Investment Forum was held at Millennium Hall, in Addis Ababa. Chinese manufacturing companies especially those operating in the Middle Eastern African countries have taken part in the event and share their experiences to the Ethiopian business people. Furthermore, Nation’s convenient investment potentials were promoted so as to allure Chinese companies invest in Ethiopia.
Ayzone Manufacturing Company was one amongst the participant companies. As to Fassil kifleyesus, Company’s Managing Director, the Company has manufactured materials using domestic raw materials to substitute items that were imported from abroad. Mentioning the best opportunities that the forum provides, the Managing Director further said that the forum, has created a platform for sellers and buyers to make business to business discussion, share experiences and create linkages.
The fact that government higher officials are one of the visitors, it came along with the offer to work in one of the industrial parks. Moreover, the Director emphasized on the technology experience sharing the forum provides in line with showcasing the best opportunities of the manufacturing sector to participants. The other participant, Surafel Kassahun, Sales and Promotion Expert of Zuhanzin Wang Plastic Manufacturing of Dukem Industry Zone indicated that their company is manufacturing different pipes adopting technology.
As to the Expert, the forum is another way to gain new experiences from technologies of different countries. Ambassador Dewano Kedir, Economic Affairs Standing Committee of Ministry of Foreign Affairs, also said that the trade balance between Ethiopia and China is imbalanced as the nation only exports Coffee and other few goods while the amount China exports is very large.
The Ambassador stressed that the nation has various opportunities to narrow down the export gap by exporting items such as meat. However, he stressed that though there are good opportunities, failure to export products with the desired quality and quantity is challenging the country. If the nation overcomes the aforementioned problem, it has huge market for China, he added.
Mentioning the fact that the nation produces large amount of agricultural products, Ambassador Dewano said that China could have keen interest to import the products. To such effect, the necessary activities should be undertaken to grow market oriented quality products. In this regard, embassies will play their role in promoting and creating market linkage to country’s products. He said: “Taking the upcoming the African Continental Free Trade Area movement into consideration, manufacturers should not only target Europe, America or any other continent, but also other African countries.
This is because that Ethiopia is becoming an African industry hub.” According to Trade and Industry State Minister, Ambassador Meseganu Arega, the nation should give more priority in substituting products that are imported from overseas. In addition, he stressed that the market should not only focus on quality and quantity but also to add values to exportable products.
In relation to balancing the trade relations, he also indicated that the nation would work on strengthening the trade and investment partnership. Such forums, in this regard, would have substantial role to capacitate local investors and alluring new companies.
The Ethiopian Herald, May 8/2019
BY BETELHEM BEDLU
