Addis Ababa March12/2017Argentine investors are keen to exploit Ethiopia’s investment in the agriculture sector, the country’s ambassador to Ethiopia said.
Argentina is one of the Latin American countries that have rich experience in agricultural practices.
In an exclusive interview with ENA, Ambassador Gustavo Teodoro Grippo said that Argentine companies are interested to invest in Ethiopia.
Though Argentine companies are interested to come here, the Ambassador said that it is important to work hard to further promote the potential in Ethiopia.
“We had to call investors from Argentina to know the country’s potential and exploit the comparative advantage such as political stability, trade law, democracy and an open economy”, he said.
“This is why we started calling them the investors of Argentina to make joint ventures with Ethiopian people and investors too” he said.
“You have a privilege location it, it takes five hours to go to Europe, Asia with big markets; you are hub. So this is why we have to take advantage of the Ethiopian situation in the world”, he said.
The Ambassador, who has been in Ethiopia as ambassador for the last three years ago, is impressed by the country’s rapid economic growth. “For me, it is very incredible to be spectator of this development”, he said.
“I can see, since 2013 when I just arrived here as ambassador of my country, how improved in different areas, fields. So we are very impressed. This is why our task as embassy to communicate to the future investors of Argentina to come here to see this country” he said.
Facilitating air transport between the two countries is important to boost trade and investment, he added.
The two countries have recently concluded an agreement for an air transport, which enable the Ethiopian Airlines to reach Argentina from Sao Paulo, Brazil.
The Ambassador urged the need to further improve trade relation between the two countries. Trade volume between the two countries is about five million USD.
Argentina exports pharmaceutical products, spare parts and fertilizer, while Ethiopia exports gold, leather products , coffee and cut flowers.
Trade and investment tie with Argentina and the rest of Latin America is low. By improving relationships with the countries, Ethiopia hopes to boost trade an investment relations, Ambassador Tebeje Berhe, Director-General of Americas Affairs at the Ministry of Foreign Affairs said.
Currently, eight Latin American countries have embassies in Ethiopia and more countries are expected to establish embassies in Addis Ababa.
Argentina reopened its embassy in Addis Ababa three years ago after 24 years.