Ethiopian business is interested in developing economic ties with Kazakhstan

Astana, June 7, 2023 – The development of trade and the creation of joint ventures were discussed during meetings of Kazakh companies with Ethiopian businessmen representing a wide range of industries from metallurgy to agriculture.

During the two-day meetings that ended today in Astana, Ethiopian business held talks with more than 26 companies of Kazakhstan interested in establishing business with Ethiopia in the fields of construction, production of building materials, agro-industrial complex, production of cables, electrical equipment, coffee imports, meat exports, international logistics services, exports of cereals, oilseeds, legumes, vegetable oils, IT services, information and communication technologies, tourism, etc.

This is the first visit of a high-level delegation of Ethiopia with a business mission in the history of bilateral relations. The sides discussed prospects for expanding trade, economic and investment cooperation. Negotiations were continued in the format of B2B meetings between interested companies.

It was also important to discuss the logistics of mutual supply chains of goods to unite the two largest landlocked countries in the world – Kazakhstan and Ethiopia.

Representatives of Kazakhstan's trade and investment promotion institutions, such as JSC «Center for Trade Policy Development «QazTrade», «Kazakh Invest», JSC «Export Insurance Company «KazakhExport», and the Foreign Trade Chamber of Kazakhstan, spoke about their tools for supporting and insuring Kazakhstan's exports and imports, and offered cooperation in working out trade and investment transactions.

According to the Center for Trade Policy Development «QazTrade», just only the export potential of processed Kazakh products to Ethiopia accounts at least 117 million US dollars.

In addition, a delegation of Ethiopian businessmen visited the Astana Free Economic Zone, where they got acquainted with the production of goods of a number of companies representing joint ventures with foreign participation.

In general, Ethiopian businessmen noted great interest in the development of economic ties with Kazakhstan and outlined plans to continue bilateral negotiations at their level.

Tomorrow the delegation of Ethiopia, headed by the former President of Ethiopia, Chairman of the Board of the Center for Investment and Networking M.Teshome, will take part in the Astana International Forum on June 8-9 this year.

Photo credit: kazakhinvest, qaztrade, kazakhexport, atameken