Addis Ababa (HAN) June 20, 2014 – Updated Trade and Investment news: Ethiopia is in the process of a bilateral trade and investment enhancement with Canada. According to the Director of American Affairs, the minister of foreign affaires, Taye Aske Sellasie, Canada is the third top development partners of Ethiopia and it has been assisting Ethiopia in various development initiatives which are in line with the Growth and Transformation Plan (GTP) as well as the Millennium Development Goals.
According to the Executive director of Canadian Eye on Africa, Nur Kafi (Photo With Canadian Foreign Minister John Baird), said “the future Canadian trade mission will open up more room for more business in Ethiopia thereby creating employment. It will also help to enhance backward and forward integration activities within the diaspora investment and local economy.”
Canada is in the process of a bilateral trade and investment empowerment with Africa through Ethiopia, in a bid to open up more areas of investment in the East African agricultural and manufacturing sector, the Ambassador of Canada to Ethiopia, the Canadian Ambassador to Ethiopia, David Usher said Friday.
“We want to be part of the new Africa, in economic development, in job creation, in growth,” said Canadian Foreign Minister John Baird last year.
A statement from the ministry said Canadian Foreign Minister John Baird discussed ways to deepen “bilateral trade and economic ties as well as Energy Africa project cooperation.”
The Ethiopian Foreign Minister Dr. Tedros Adhanom Ghebreyesus also discussed ways to “develop the trade and investment relationship” with Canadian Foreign Minister John Baird.
“They also discussed cooperation in multilateral fora such as the annual African Economic Conference (AEC) which is to be held from 17-19 November, 2014 in Addis Ababa Ethiopia under the theme, “Skills, Technology and Innovation for Economic Transformation” and IGAD2020 strategy,” the statement said.
The Ethiopian Foreign Minister Dr. Tedros Adhanom Ghebreyesus told Geeska Afrika Online that there were “tremendous opportunities” to deepen cooperation between the two countries.
The managing editor publisher of Geeska Africa Online informed John Bird about the “good ties” between Prime Minister Hailemariam and leaders of IGAD’s neighboring countries of Somalia, Djibouti and South Sudan.
During the 4th Ethiopia Canada Bilateral Consultation official of Ethiopia and Canada affirmed they will strengthen ties in the areas of trade and investment and also cement former deals.
Taye further noted the Consultation was aimed at looking the gaps and major achievements secured by Ethiopia with regard to the eight MDGs it is working on by the bilateral assistance it gets from Canada.
Taye also marked representatives of the two countries will discuss ways on how to enhance trade and investment.
The Canadian Ambassador to Ethiopia, David Usher, on his part noted Canada has been providing support to Ethiopia on different sectors. The Canadian Ambassador to Ethiopia, David Usher also appreciated achievements made by Ethiopia.
The Canadian Ambassador to Ethiopia, David Usher further noted Ethiopian Airlines’ flight to Canada three times a week is the best opportunity to cement and investment relation of the two countries. As per the delegates of Canada, they aspire to increase Canadians participation in the mining sector. In addition to this, they expressed their interest in empowering women in the sector via training.
Currently, as the data from the Ministry of Mines indicate, there are 11 Canadian licensed investors in Ethiopia participating in the mineral and petroleum exploration. In relation to trade relation the balance of trade the two countries is in favor of Canada even if there is some improvement.
Meanwhile, Ethiopia uses electricity exports to drive ambition as a regional East Africa power hub. In a region where religious differences often lead to political tension and the threat of violence, there is one area where they help: electricity exports to Djibouti, Sudan, kenya, South Sudan, Somalia and Eritrea.
“When they have heavy load we have a light load so it works out well,” says Miheret Debebe, former head of Ethiopia’s state power company who is now energy adviser to the prime minister.
This flexibility is one part of an ambitious 25-year master plan to transform the country into one of the top, and cheapest, power suppliers in Africa.
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