Borkena
Toronto – Ethiopia’s Delegation was in Brazil last week to take part in the First BRICS Sherpas/Sous Sherpas Meeting in Brasilia, Brazil.
The delegation seems to have seized the trip to launch an investment promotion campaign in Brazil. The Ministry of Foreign Affairs of Ethiopia this week announced that a promotion forum was organized in the capital Brasilia.
Brazilian companies from agro-processing, manufacturing, mining and tourism have attended the forum.
Mesganu Arega, State Minister in the Ministry of Foreign Affairs of Ethiopia, spoke at the forum. He reportedly told participants, whose numbers are unspecified, that Ethiopia is primarily interested in agro-processing, manufacturing, mining, tourism and ICT sectors.
Brazil is said to be a powerhouse in the agro-processing industry and is one of the world’s largest exporters of processed food. Agriculture, although still underdeveloped, is the major source of Ethiopia’s export earning. In most cases it is exported without added value.
Mesganu spoke about “the favorable investment environment as a result of the comprehensive economic reforms undertaken in Ethiopia, lucrative opportunities that the country offers and called on Brazilian companies to invest in Ethiopia. ”
There are however reports that some investors have experienced operational difficulties due to the security situations in the country. The Federal government is currently undertaking intensive war in the Amhara region of Ethiopia where Fano forces took up arms to reverse “existential threat to ethnic Amharas.”
Yet, the minister has got some selling points to emphasize. Access to market, incentive packages and infrastructures (industrial parks) are among conducive conditions the state minister promoted to the participants of the forum.
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