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Representatives six Italian textile machinery manufacturing companies visited Ethiopia and held a discussion with Ethiopian businesses on Tuesday 02 July 2013 at the Addis Ababa Hilton Hotel.

“Ethiopia is a country with great prospects that is willing to invest in order to allow its textile sector to continually grow. The goal of this mission is, not just to present what our sector has to offer, but to develop a dialog with local authorities for a program of long term cooperation,” said Raffaella Carabelli, President of the Association of Italian Textile Machinery Manufacturers.

A delegation from the London Chamber of Commerce and Industry is expected to visit Ethiopia between the 26th and 28th of March according to the British Embassy in Ethiopia.

The delegation will be meeting with representatives from the local business community to assess opportunities for collaboration explained the press release sent out by the Embassy.

The delegation from England will consist of 17 business people who plan to promote various products and services.

Speakers of the Ethiopian and South Korean Parliaments expressed their commitment to further strengthen investment cooperation between the two countries.

During talks with with Korean Republic Parliament delegation headed by  Speaker Kang Lee yesterday, House of Peoples Representatives Speaker Abadulla Gemeda said tthat at Ethiopia will create favorable conditions for Korean investors interested to invest here.

The project to execute a modern residential address system in Addis Ababa, Ethiopia is showing promising progress according to the Integrated Land Management Information Project Development Office.

The program was launched in two sub-cities as part of the plan to set up an address system dividing streets, blocks and house numbers.

A manual has been prepared to help number each street and house in partnership with hansa Luftbild Consulting, a German company according to Ephrem Belete, Office Unit Coordinator. An address map has already been developed for two woredas and 98% of sign posts have already been put up he said.

Revenue from flower exports grew to 212.5 million US dollars in Ethiopia in the last financial year. The revenue is fourteen percent higher than the money earned in the previous fiscal year because flower exports has grown to 2.1 billion stems from 1.8 billion stems.

The increase in revenue is attributed to the implementation of newly enacted control mechanisms.

The new mechanisms put in place eliminated the previous system whereby custom officials just counted the stems in selected boxes to estimate exports allowing a loophole for exporters to retain some retain some revenue outside of the country.