Economic Diplomacy Brought Success to Ethiopia Featured

10 Aug 2017
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Addis Ababa August 10/2017 Ethiopia has registered remarkable achievements in terms of economic diplomacy in the past Ethiopian fiscal year, the Ministry of Foreign Affairs said.

Attracting anchor companies, expanding market destinations, and promoting tourist sites are among the achievements mentioned by the Spokesperson of Meles Alem while briefing journalists.

The role of economic diplomacy that the country has been pursuing was immense in this regard particularly in attracting foreign direct investment and expanding trade relations.

 “During the fiscal year, some 84 anchor companies have managed to come here. They are transnational companies with a capital of 500 million to one billion USD. They can contribute a lot in terms of technology transfer. They also employ many people" he said.

 Though most of the companies are from Asia and Oceania, a good number of companies from America and Europe are also coming, Meles added.

 Development of industrial parks, expansion of other infrastructures as well as the luring investment policy and political stability of the country are among the contributors.

 In expanding trade destinations and relations, the country has been engaged in various activities, Meles said.

 Hosting global trade fairs and taking part in business forums were among the activities undertaken to create partnership among domestic and transnational companies, he added.

 Regarding to market destinations, the country has managed to export its products to 122 destinations. According to Meles, the plan was to expand the country's market destinations to 200. 

"Tremendous activities were undertaken in terms of exporting value added products" he said. Though there is work that needs to be done to meet the goal.  

 According to Meles, the year is also a success in promoting Ethiopia's tourist sites in collaboration with East African and Asian tourism companies.

 Some 106 global tour operators were recruited to incorporate Ethiopian tourist destinations in their package. Promotional activities were also made through exhibitions held in different countries, he said.

 Noting the need to sustain the achievement, Meles pointed out that the plan is to further enhance the effort in the current Ethiopian fiscal year to enable the nation boost its performance.

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