According to Canadian Ambassador to Ethiopia, David Usher, investors from his country with a total capital of CAD $ 367 Million have managed to secure license in order to work in Ethiopia.

Usher commented the Canadian investors engaged in importing machinery, leasing construction equipment, education, health, consultancy, tourism and information technology. He added 12 companies also have secured mineral exploration license in Ethiopia, out of which two have substantial assets.

Figures for the trade flows of the two countries are not as attractive as they should have been when seen with the 50 years relationship Ethiopia and Canada have, Usher noted. In order to boost, he added, the trade exchange between the two countries, joint consultative forums are being organized in collaboration with Ethiopian Ministry of Foreign Affairs.

Merchandise that flows to Ethiopia from Canada are aircraft and parts, machinery, precious stones, metals (coin) and electrical machinery. On the other hand Canada imports mainly coffee, tea and spices, oil cereals and other agricultural products.

The Ambassador appreciated Ethiopian Airlines direct flight three times to Toronto for it contributes to the raising investment and cultural ties.

The trade exchange between Ethiopia and Canada reached CAD $ 141.3 Million. in addition to this Canada raised its developmental support to Ethiopia to CAD $ 210 Million during the current year.

Source: Ethiopian News Agency