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Ethiopian Trade Fair Attracts Egyptian Businesses

Thirty two of the forty five International companies expected to participate in the Ethiopian Chamber of Commerce and Sectoral Association (ECCSA) trade fair are Egyptian according to Gashaw Debebe, Secretary General of ECCSA.

Companies from across the globe had been invited to take part in the trade fair through Ethiopian embassies and national chambers Gashaw said.

The significant representation of Egyptian companies suggests that the Business Council of Egypt was effective in promoting the opportunities available in Ethiopia to the Egyptian business community he noted.

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Ethiopian Growth Plan Cause for Debate

The international financial institutions claim that the Growth and Transformation Plan adopted by Ethiopia is over ambitious. The Ethiopian government counters the allegations by pointing to the 11.4% growth recorded in the last fiscal year.

The plan leans too heavily on output by public companies such as Sugar Corp. and Metal and Engineering Corp. and may put the whole macro economic stability at risk according to a World Bank official.

The success of the plan is attested by the impressive 11.4% growth recorded argues Meles Zenawi Prime Minister of Ethiopia. The 15% annual growth set in the growth plan is a marker to urge progress and all financial planning is figured according to the more realistic 11% mark explained the Prime Minister.

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Ethiopia says Green Economy Must Become a Reality

African countries need to concentrate on building a green economy, said Meles Zenaw,i Prime Minister of Ethiopia, speaking at the annual Conference of African Ministers held in Addis Ababa, Ethiopia.

Alternative development paradigms are necessary because of the failure of neo-liberal paradigms in African development Meles said.

The economies of African countries are largely based agricultural activities and therefore any efforts toward green development need to take in account the agrarian sectors the Prime Minister explained.

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Ethiopian Leather Industry to Earn $206 Million

The Ethiopian Leather Industries Association announced plans to obtain 206 million US dollars from the export of leather and leather products this budget year.

It is expected that the revenue will be raised from the export of finished and semi-processed leather products according to Abdisa Adugna Secretary General of the Ethiopian Leather Industries Association.

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South African Company Ships Coal to Ethiopia

The South African company LontohCoal shipped 27,500 tonnes of Coal to Ethiopia on Wednesday. The shipment will be arrive through Port Djibouti for Huang Shan Cement and CH Clinker.

The two Chinese companies are subsidiaries of the Guangdong Chuanhui Group which signed the two year agreement for 480,000 tonnes of coal every year with LontohCoal.

The Coal was expected to arrive in September but was held up due to transportation difficulties.

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