Monday , November 18 2019
Home / ethiopia / Ethiopia, Kenya has created to boost trade, investment – New Ethiopia business

Ethiopia, Kenya has created to boost trade, investment – New Ethiopia business



Exciting time has come to Kenya and Ethiopia to boost their historic ties reinforcing trade and investment among them, says Ambassador of Kenya to Ethiopia. A high-level Kenyan delegation led by President Uhuru Kenyata is expected to visit Addis Ababa tomorrow and Saturday with 100 heads of major Kenyan companies.

"We are delighted that it is about events that we have been able to provide. We know that this is one more step towards the cordial cordial relationship that our two countries had," said Ambassador Catherine Muigai Mwangishe, who explained the delinquency mission.

The visit of Ethiopia's top-level business delegation is the result of the first reformist Abiy Ahmed of Ethiopia, who announced the plan to open the country for companies and provide conditions for the private sector, according to Ambassador Catherine Muigai Mwangi. "This gave the Kenyan businessmen confidence that Ethiopia is now open for business," he said, indicating that it is also a good opportunity for Ethiopian companies to meet with Kenyan companies and see the opportunities that Kenya is offering.

In the next two days, representing the business communities, it is expected that the cameras of both countries will hold meetings and sign collaboration agreements, according to the ambassador.

She stated that the conversation to improve investment and trade between the two countries, harmonizing policies and regulations, was long-term. "I do not think of any Kenyan company installed here," he said, indicating the need to harmonize policies that will allow the private sector of both countries to do free business.

She noted that to address such problems, the delegation led by President Uhuru, includes political leaders and regulating officials from different regulatory agencies, such as the Central Bank of Kenya and the Ministry of Commerce, among others.

During their meeting with their Ethiopian counterparts, they will seek the harmonization of policies and legislation. "If the policy and the regulatory framework are not in force, then trade between the two countries becomes impossible," he said, indicating that the annual turnover between the two neighbors is 8 million dollars.

"Especially for the commitment of the new Prime Minister of Ethiopia Dr. Abiy Ahmed to guarantee this [policy and regulatory framework] is in place, we hope this will be completed to facilitate trade and investments between the two countries … Kenyans and Ethiopians are not strangers. They are known and interacted for so many years. This is an exciting time for both countries, "Ambassador Catherine Muigai Mwangi said, indicating that the private sector of the two countries has been waiting for this moment." I am sure that next year, we will not talk about regulatory and regulatory issues " , said.

The delegation involves companies dedicated to tourism, agriculture, the financial sectors of telecommunications. Kenyan companies are also interested in investing in the Ethiopian leather sector, according to the ambassador. Ethiopia and Kenya are being connected by modern road and electricity.
Kenyan companies, who are accustomed to the liberal market, could not invest in a highly-controlled market in Ethiopia, mainly quotas for issues related to repatriation of benefits, according to the latest NewBusinessEthiopia.com report, which cited a trade agency official of the United Nations.


Source link