Ethiopian, Kazakh Businesses Discuss Trade, Investment

ADDIS ABABA – Members of Addis Ababa Chamber of Commerce and Sectoral Association held discussion with their counterpart in Kazakhstan on ways to increase ties in business and investment.

The virtual business forum was held in the premises of the embassy of Kazakhstan in Addis Ababa under the theme, ‘Promoting Trade and Investment between Kazakhstan and Ethiopia’.

Business communities from Addis Ababa, Kazak Export, and an insurance company from Kazakhstan and ministry of trade and integration from Kazakhstan attended the forum.

Addressing the participants, Kazakhstan Ambassador to Ethiopia B.Sadyakov said Kazakhstan and Ethiopia have maintained “an excellent relationship” based on friendship and mutual support.

Both countries have “a very good prospect in all areas of cooperation”, said the ambassador.

Trade and economic cooperation is now at the initial development but there is a huge potential for interaction that needs action, he noted.

Addis Chamber’s deputy secretary general Zekarias Assefa said that the current trade and investment ties of the two countries are promising and expected to be promoted in the near future.

The recent trade exchange of the two countries have shown a positive signal to embark on for further economic ties, according to Zekarias.

During the forum, business opportunities, potentials and polices were briefed to the Ethiopian business communities to help them properly target Kazakhstan as one of their trade and investment destinations in Eurasia.

Ethiopian businesses also expressed their interest to connect with their counterparts in Kazakhstan, revealing the diverse business opportunities and potentials in Ethiopia such as in agro industries.

The forum served as an important platform to connect the business communities of the two nations, Addis Chamber said.

Addis Chamber is the largest and oldest chamber of commerce in Ethiopia with over 17, 000 members.

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