Italian business delegation talk investment

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The Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA) held a business-to-business (B2B) discussion with an Italian delegation comprising of 28 individuals representing their companies and drawn from the various sectors operating in Brescia, Italy, on October 14th 2013 at the Association’s Hall. The city of Brescia, one of the manufacturing centers in Northern Italy, is known for its small and medium-sized companies.
During the B2B forum, Italian and Ethiopian companies held discussions on possible areas of trade and investment that they would be able to work on jointly.
Aside from the B2B forum, the Italian delegation also met with Foreign Minister Tedros Adhanom. He explained to the delegation the main strategic areas of investment identified by the Growth and Transformation Plan (GTP) and urged small and medium Italian companies to invest in priority sectors in the country such as textiles, leather, construction and energy, among other things.
The Minister also noted that Ethiopia and Italy have a long-standing and historic relationship. He underlined that Ethiopia was a country with double-digit growth driven mainly by the agriculture sector.
Italian Ambassador to Ethiopia, Renzo Rosso, said that Ethiopia is at the crossroads of Europe and Africa, and that Ethiopia’s development vision was encouraging, with the country having all the potential needed to achieve it.
The thriving economic relationship between Ethiopia and Italy is due to the historical presence of Italian companies operating in Ethiopia in the field of import-export, construction, metal and mechanical industry, and leather. The bilateral relations between the two countries have improved as Italians have ventured into other sectors such as infrastructure, telecommunication technologies, hydropower dam construction and agro-industry.
The total trade exchange volume between the two countries grew to over USD 391 million in 2011, up from USD 171 million in 2004.