Addis Ababa, March 25, 2011 (Addis Ababa) - The British Embassy in Addis Ababa and the London Chamber of Commerce and Industry (LCCI) have organized a trade mission to Ethiopia to promote the bilateral trade and investment relationship.
The trade mission to Ethiopia will be made on 27-30 March, as part of the wider British Government effort to promote the bilateral trade and investment, the Embassy said in a press release it sent to ENA on Friday.
It said the mission would be supported by the UK’s Trade and Investment Agency and it will be led by Subhash Thakrar, LCCI Chairperson.
Some thirteen British companies comprising a wide range of sectors including agriculture, laboratory equipment and power distribution, among others, it said.
The delegates will meet senior government officials from the Ministry of Trade, the Ethiopian Investment Agency and the Addis Ababa Chamber of Commerce and Sectoral Associations and explore trade and investment opportunities, it said.
The mission and the soon-to-be-signed Double Taxation Agreement are expected to give further impetus to the growing trade and investment relationship between the two countries.
The embassy said a number of British firms are invested in mining, agriculture, leather industry and pharmaceuticals, among others.
Bilateral trade between UK and Ethiopia has more than doubled from 98 million Pounds in 2005 to 204 million Pounds in 2009.
In the same period, UK exports to Ethiopia have grown on average by about 22 percent annually from 53 million Pounds to 120 million Pounds while UK imports from Ethiopia grew on average by about 18 percent annually from 45 million Pounds to 84 million Pounds.
Major UK export items to Ethiopia in 2009 were power generating machinery and transport equipment while major UK imports from Ethiopia were leather goods, vegetables and fruits, the embassy said.
Commenting on the visit, British Ambassador to Ethiopia ,Norman Ling said “ previous missions have been highly successful in generating business for the participants and mentioned this visit as a case in point that UK investors are increasingly recognizing Ethiopia’s potential."
The trade mission to Ethiopia will be made on 27-30 March, as part of the wider British Government effort to promote the bilateral trade and investment, the Embassy said in a press release it sent to ENA on Friday.
It said the mission would be supported by the UK’s Trade and Investment Agency and it will be led by Subhash Thakrar, LCCI Chairperson.
Some thirteen British companies comprising a wide range of sectors including agriculture, laboratory equipment and power distribution, among others, it said.
The delegates will meet senior government officials from the Ministry of Trade, the Ethiopian Investment Agency and the Addis Ababa Chamber of Commerce and Sectoral Associations and explore trade and investment opportunities, it said.
The mission and the soon-to-be-signed Double Taxation Agreement are expected to give further impetus to the growing trade and investment relationship between the two countries.
The embassy said a number of British firms are invested in mining, agriculture, leather industry and pharmaceuticals, among others.
Bilateral trade between UK and Ethiopia has more than doubled from 98 million Pounds in 2005 to 204 million Pounds in 2009.
In the same period, UK exports to Ethiopia have grown on average by about 22 percent annually from 53 million Pounds to 120 million Pounds while UK imports from Ethiopia grew on average by about 18 percent annually from 45 million Pounds to 84 million Pounds.
Major UK export items to Ethiopia in 2009 were power generating machinery and transport equipment while major UK imports from Ethiopia were leather goods, vegetables and fruits, the embassy said.
Commenting on the visit, British Ambassador to Ethiopia ,Norman Ling said “ previous missions have been highly successful in generating business for the participants and mentioned this visit as a case in point that UK investors are increasingly recognizing Ethiopia’s potential."
No comments:
Post a Comment