Ethiopia calls for investment from Nepal

Filed under: News |

Jun 14, 2017-
– Post Report, Kathmandu

African nation, Ethiopia has offered Nepali investors to invest in agro-processing, manufacturing, chemical, pharmaceutical, textile, apparels among others.

Ethiopian Ambassador to India Asfaw Dingamo who is also accredited to look after Nepal and currently in Kathmandu to inaugurate the Honorary Consul of Ethiopia said that Nepal and Ethiopia can do much in various sectors given status of rising economies of Asia and Africa.

Chairman of Kailash Development Bank, Rajendra Giri has been appointed honorary consular of Nepal to Ethiopia.

“Ours economies are growing so the private sectors from both sides can exert the opportunity,” said envoy Dingamo while calling for boosting trade and commerce ties as Ethiopia is called as get- way of Asia in Africa, “So many foreign investors are investing in agro-processing manufacturing and others, we would like to invite Nepali private sectors and players to invest in Ethiopia as its economic outlook in recent history are in upward trajectory.”

Likewise, Ambassador Dingamo said that though the current state of bilateral trade volume is negligible but prospects are huge adding that opening up the new Honorary Consul in Nepal will attract the investments from both sides that can boost other various sectors.

“I have put forward some proposals at Nepal’s Ministry of Foreign Affairs for cultural exchanges and tourism promotion,” said the Ethiopian envoy, “I have also proposed to set up bilateral consultative mechanisms between the foreign ministries of Ethiopia and Nepal aiming to strengthening the bilateral ties and scale up the trade, business and other opportunities.”

Similarly, Ambassadir Dingamo said that Ethiopia is also interested in air service agreement with Nepal. “Immediately there are no plans of direct flights between Kathmandu and Addis Ababa but we can reach an agreement on code sharing where Nepali travelers airlines can do some kind of tie up with Ethiopian airlines and carry the Nepali passengers,” said Envoy Dingamo.

Furthermore, Envoy Dingamo said that avoidance of double taxation, visa waiving for diplomatic and officials staffs and on arrival visas from nationals from both sides will further scale up status of the bilateral ties and create an environment for opening up further avenues.

“More agreements are in line,” the ambassador said, “First we will start by some, it will open up more vistas for both nations.”

Published: 14-06-2017 15:59

One Response to Ethiopia calls for investment from Nepal

  1. It is good for Ethiopian Government and Public,because the Ethiopian Government focusing on investors ,if foreign investors invest in Ethiopia in agriculture and other industry the county generate more employment and foreign currency problems .Ethiopia is the best country to invest in Agriculture Sector and Manufacture industry .Ethiopian Climate is good for Agriculture specially in Oromia Region ,Gamblela State and Amhara region ,Benshamgul Region .I have been there for 9 years in different areas .

    Raki
    June 20, 2017 at 2:30 am
    Reply

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