By kassahun Mamo
South African businesspersons are interested to invest in agro-processing, metal processing production, pharmaceuticals, and chemical products in Ethiopia.
This was disclosed by Mrs. Patricia De Lille, Mayor of Cape town at the Ethio-South African business forum and business to business meeting that opened in Addis Ababa Capital Hotel on July 17, 2017.
Some 16 South African businesspersons and their Ethiopian counterparts took part in the business meeting.
The main objective of the forum jointly organized by the Addis Ababa Chamber of commerce and sectoral Association and the South African Embassy in Ethiopia is to boost trade and investment ties between the two countries.
Speaking during the occasion, Secretary General of Addis Ababa Chamber of Commerce and Sectoral Associations, Mr. Getachew Regassa said Ethiopia and South Africa should strengthen trade and investment in order to exploit the huge potentials in their countries. He said business communities of both sides need to refresh their potentials and resources to make use of the opportunities laid out in this Business to Business meeting as part of enhancing the trade and investment partnership.
Very recent reports indicate that trade relation between both countries has grown both in value and volume from 42 million USD in 2004 to over 100 million USD over the last few years. According to the Secretary General, intra-trade among African countries is low due to absence of continental free trade agreement.
Mrs. Patricia De Lille, Mayor of Cape town said on her part increasing trade and investment based on the mutual benefits is essential.
The governments of both countries should create conducive environment for investors and the amount of trade and investment between countries should be further boosted, the mayor added.
The two countries have close to a century old political and economic relations. However, one cannot find it to the expected magnitude. However; it is a matter of fact that the two countries have been proceeding with cultural and social aspects for many years.