50 companies from Turkey, Ethiopia, China, Italy, Germany, Spain, Kenya, UAE, Lebanon and Jordan participated in the third edition of Addis Agrofood. The exhibition was visited by nearly 2,300 unique visitors. The product groups in the exhibition included silos (grain storage facilities,) seed cleaning, processing and conditioning equipment, agricultural machinery, water treatment and irrigation technologies, food processing and packaging machinery and equipment, poultry equipment, milking systems, feed machinery, animal nutrition and veterinary products, food and beverages (dates, chewing gum, pasta, biscuits, cookies and pastry, nuts, yeast, tomato-pepper paste, tea, beer.)
Ethiopia’s economy is mainly based on agriculture and the country imports almost all food and agricultural machinery. Ethiopia is the first at livestock breeding sector in Africa, and it also is one of the first ten countries in the world. According to the Economist, Ethiopia has one of the fastest growing economies in the world. The country has also recorded an ‘impressive growth’ during the past few years, according to a recent IMF review.
Ethiopia is the second most populated country in Africa. Ethiopian government reduced customs tariff significantly in the framework of creating economic liberalization. The maximum tariff came down from 230% to 35% and the minimum is 5%. The average tariff is reduced from 41.6% to 17.5%. Ethiopia also has several agreements that grant duty-free access to many countries, including European countries and the USA.
Business friendly climate, duty-free access, and competitive labour costs have successfully created new investments and employment opportunities. Ethiopia is also a member of COMESA which has an access to the markets of 20 African countries.