(March 28, 2011, Addis Ababa, ERA)--The Addis Ababa Chamber of Commerce and Sectoral Associations (AACCSA) and the London Chamber of Commerce and Industry (LCCI) have signed here on Monday a cooperation agreement.
The agreement would enable to promote and strengthen the development of economic and trade relations and co-operation between the member companies of both parties on the basis of equality and mutual benefit.
The agreement was signed by AACCSA President, Ayalew Zegeye and Chairman of LCCI, Subhash Tuakror, who leads 10 investors and businessmen from London.
During the signing ceremony, Ayalew said there is immense investment opportunity in the areas of agriculture, manufacturing industries, construction, real estate, tourism and mining, among others.
In 2005 the UK export to Ethiopia was worth 53 million pounds, and in 2009 it reached 120 million pounds, likewise, Ethiopia's export to the UK was 45 million pounds in 2005 and 60 million in 2009, which Ayalew said indicate the huge opportunity that exist to do much more to increase the volume of trade and investment between the two countries.
Tuakror on his part said the agreement would enable to strengthen the relationships between the two chambers. He said UK investors are interested to invest in Ethiopia.
Source: Ethiopian News Agency
The agreement would enable to promote and strengthen the development of economic and trade relations and co-operation between the member companies of both parties on the basis of equality and mutual benefit.
The agreement was signed by AACCSA President, Ayalew Zegeye and Chairman of LCCI, Subhash Tuakror, who leads 10 investors and businessmen from London.
During the signing ceremony, Ayalew said there is immense investment opportunity in the areas of agriculture, manufacturing industries, construction, real estate, tourism and mining, among others.
In 2005 the UK export to Ethiopia was worth 53 million pounds, and in 2009 it reached 120 million pounds, likewise, Ethiopia's export to the UK was 45 million pounds in 2005 and 60 million in 2009, which Ayalew said indicate the huge opportunity that exist to do much more to increase the volume of trade and investment between the two countries.
Tuakror on his part said the agreement would enable to strengthen the relationships between the two chambers. He said UK investors are interested to invest in Ethiopia.
Source: Ethiopian News Agency
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