- Ethiopia offers immense investment opportunities
ADDIS ABABA-The Trade Mark Africa (TMA) has been working to promote resilient and transformative trade and investment in the East African region including Ethiopia, the country director said.
Speaking to The Ethiopian Herald, the TMA Country Director Ewnetu Taye stated that the firm has also been working to enhance market access and export trade among the East African countries.
To the realization of its goal, the TMA has been forming close partnership with continental and regional organizations including the African Union (AU), the African Continental Free Trade Area (AfCFTA) secretariat, the East African Community (ECC) and the Intergovernmental Authority for Development (IGAD).
It also has strong collaboration with the African Customs Union, the region’s private sector, civil societies and others to promote resilient and transformative trade in East Africa, the director added.
“Similarly, we have been emphasizing on job creation and preservation of export and regionally oriented targets, increasing the capacity of East African private sector and business associations and building regional capacity to mitigate economic shocks.”
According to Ewnetu, Ethiopia has offered enormous investment opportunities in strategic areas including agriculture and agro-processing, textile, and printing services among many others. “The country availed one of the most appealing investment opportunities in the continent.”
For Addis Ababa Chamber of Commerce and Sectoral Association (ACCSA) President Mesenbet Shenkute, opening up the previously-restricted business areas for foreign firms would bring significant benefits in job creation and increase the supply of goods in the local market.
Mesenbet; however, stressed the need to put in place viable mechanisms that will protect local businesses.
In this regard, the ACCSA set out to discuss its members and other partners on this issue and it is also working to forward research based policy recommendations on the recently-enacted measure.
The full implementation of the AfCFTA needs a wide range of preparations including improving the quality of products, boosting the manufacturing industries’ capacity, increasing production and productivity and others, she noted.
BY TSEGAYE TILAHUN
The Ethiopian herald April 28/2024
