Ethio-South Africa Investment and Business Forum was opened on Tuesday, June 3, 2014 here in Addis Ababa, Ethiopia, Walta Information Center reported. The event will remain open for three days. 25 representatives of South African companies from the sectors of education, health, infrastructure, manufacturing and agro-processing are attending discussions on possible cooperation in trade and investment.

Deputy Secretary General of the Ethiopian Chamber of Commerce and Sectorial Association, Endalkachew Simie, noted the growth of import and export value and volume between the two nations. He attributed this to the longstanding bilateral relation and the bilateral agreements that strengthened the relationship. He said the Forum will further increase the economic ties between the two countries.

Chairman of the NEPAD Business Foundation, Stanley Subramoney, on his part stated Africa is at a critical moment and it is providing a new edge of opportunity. He added trade among African nations is growing and it is pushing back the frontiers of poverty.

Tefera Deribew, Agriculture Minister, stipulated the Forum will take the two nation’s relation to a higher level by promoting strategic economic alliance and solid business partnership.

Director General of the Investment Agency Fitsum Arega, affirmed the Ethiopian government’s full support and incentives for priority investment areas. Fitsum called on South African investors to make use of Ethiopia’s quota-free and duty-free access to European and other markets.

Source: Walta Information Center