Well organized and dedicated c h a m b e r ’ s focus lies on strengthening local, regional and international trade in a bid to attract trade and investment. In line with this, the Addis Ababa Chamber of Commerce and Sectoral Associations (AACCSA) has been executing a wider range of activities to allure potential investors across the globe and attract foreign investment.
Getachew Regassa, Chairperson of AACCSA said that Chambers should conduct partnerships and act as a liaison between international and local businesses, supporting efforts from embassies, consulates, bi-national chambers of commerce, and businesses promoting global commerce, economic, cultural and social exchange. Not only that, but they also should play advocacy in private business to flourish and facilitating financial sources. Ethiopia has been taking part in mega exhibitions organized in various parts of the globe including the United Arab Emirates (UAE), America and Europe among others.
The exhibitions in turn have created opportunities in terms of bringing BY ROBEL YOHANNNES BY MENGISTEAB TESHOME together senior government officials, decision makers, business affiliates and business people to conduct business to business discussions, share experiences and make information based decisions. On the other way, the trade fairs, the Addis Chamber International Trade Fair, has now regarded as the most popular international event in the country with turnout of hundreds of participants from Ethiopia and abroad.
As to him, the Chamber has organized four international trade fairs: Addis Chamber International Trade Fair, Agriculture and Food International Trade Fair, Tourism and Travel Fair and Manufacturing and Technology International Fair. Moreover, it is anticipating attracting more participants from the fashion industry by redesigning the Trade Fair Stands to accommodate international standard fashion shows.
“Chambers have irreplaceable role in facilitating trade and investment as well as creating informed business community that could act and decide based on realities, anticipate relative profit margin and other similar issues rather than sticking to easy money making business”. While talking about the challenges, Getachew mentioned lack of international standard trade fair and exhibition center.
To address the ever growing demand, the chamber has initiated the establishment of the Addis-Africa International Convention and Exhibition Center. The effort is actualized with Addis Ababa City Administration and private sector and the center is under construction. “Since Rome is not built over night the Chamber is working with pertinent stakeholders and is doing its best to keep on in addressing the challenges based on priorities.”
Abrahm Hailemariam Investment and Promotion Director with AACCSA also said that chambers should work in line with the government’s policy to promote its members benefit. As to him bazaars, exhibitions and trade fairs organized by the Chamber have given ample opportunities for participants to introduce their latest products and services, meet with industry partners and customers, study activities of competitors and examine recent market trends and opportunities as well as understand the policy and law enforcement of the destination nations.
For instance, the Agriculture and Food International Trade Fair held in Addis Exhibition Center and over ten countries took part was a good forum in this regard, he added. When trade fairs, bazaars and exhibitions are organized, the Chamber works with Ministry of Foreign Affairs and foreign embassies in Ethiopia to inform the type of trade fair we are planning to organize, and extend calls through them so as to increase the number of participants and invite more investors and trades to join the event, he said.
Letting investors know in advance all about incentives on the ground and all the necessary information in well organized fashion pays off because if the business to business relations translated to investment will create jobs, transfer technology and skill as well assist local business communities to invest in joint venture. “Finally, it is about improving the export performance and retaining foreign currency, so organizing trade and investment has its own merits,” he opined.
The Ethiopian Herald May 15/2019
BY MENGISTEAB TESHOME
