The 2nd Ethio Kenya Business Conference & Mission kicked off in Addis Ababa, calling for businesses of the two nations to further unleash existing potentials.
Hosted by Addis Chamber and the Kenyan Associations of Manufactures (KAM), the high level business and trade mission have brought together senior government officials of the two nations, diplomatic communities, businesses, Chamber of Commerce & industries, the press and invited guests.
The latest round of trade mission and conference is the outcome of feasible bilateral & comprehensive economic consignments between the two nations.
One of the remarkable agreements signed is the 2012 Special Status Agreement (SSA) that was inked among head of states of Ethiopia and Kenya.
The SSA agreement has established a bilateral regional framework to ease trade and investment known as Special Status Agreement (SSA).
It also aims at easing trade and investment between the two countries and the areas of investment includes infrastructure development, trade and investment, food security and sustainable livelihood.
Subsequent to such agreements the two countries have established a one stop border post, at Moyale border, progressive tariff concessions in line with the SSA, procedure manual at Moyale border point that was also signed in September 2021, it is highlighted during the conference.
Intra trade among Africans remains to be insignificant amounted to be less than 15% as compared to trade between Africa and other parts of the world.
Now the two nations, Ethiopia and Kenya are striving to change the gear in championing intra Africa trade, said Zekarias Assefa, Acting Secretary General from Addis Chamber.
Ethiopia is still a market for Kenyan businesses where the Kenyan products will have immense market opportunities, yet Kenyan business entities didn’t fully tap the investment opportunities in Ethiopia, remarks Tobias Olando, CEO of KAM.
He further calls on businesses of the two nations to maximize partnership.
He also said there are enormous opportunities in Kenya and Ethiopia and by coming together we can see opportunities.
Kenya and Ethiopia will be joined bilateral relations in economic, social and political spheres.
When the two nations meet they exchange ideas, opportunities and vision for a thriving region.
In his keynote address to the conference, Yohannes Fanta ( Amb.) Director General for political and economic Diplomacy, from Ministry of Foreign Affairs of Ethiopia, commends the role of Addis Ababa Chamber of Commerce & Sectoral Association (Addis Chamber) and Kenyan Associations of Manufacturers (KAM) for hosting the timely and essential business conference.
Ethiopia and Kenya are solid allies, dependable and strategic partners over the years.
Given the enormous potentials offered by the two countries, there remains huge trade and investment opportunities to work on, further said Amb. Yohannes
George Orina, Kenyan Ambassador to Ethiopia, lauds the measures taken by the National Bank of Ethiopia to liberalize the forex currency and opening the banking sector for foreign businesses is remarkable in attracting small and giant investors to Ethiopia.
It is highlighted during the conference in 2023, Kenya’s export volume to Ethiopia is amounted to 130 million which includes food products, plastics, live animals, soaps, nuclear reactors, electrical machinery among others.
On the other hand Ethiopia in the same year exported 58.2 million USD including edible vegetables, cotton, vehicle parts, electrical machinery, footwear, coffee, iron and steel, spices, zinc among others.
Despite the trade volume between the two countries, there remains a significant untapped potential that can further boost the economy, speaks Tobias.
At the midst of such endeavors, the conference attributes the current strategic partnership between Addis Chamber and KAM that is more trusted to ensure business competitiveness and to promote investment, productive jobs and enhance import and export activities sustainably.
