ADDIS ABABA –r 13 MAY 2016: Ethio-Sudanese Business Forum that aimed at boosting the two countries trade exchange volume was held yesterday. The trade exchange volume between the two countries has reached more than 184 million USD, which is very low compared to the existing trade potential of the two nations.
The Forum was held in the presence of Sudanese business community and Ethiopian counterparts.
On the occasion, Sudanese-Ethiopian Business Forum President Wagdi M. Mahgoub said that the Forum will help strengthen the ties in the areas of commerce.
According to him, to boost the existing very low trade volume exchange between the two nations, they need to address absence of banking relations and the fast implementation on zero tariff agreement.
“We need to have a direct banking relationship with Ethiopia. We need the customs at the two countries to fully implement the already signed agreement,” he noted.
Ethiopian Investment Commission Deputy Commissioner Teka Gebreyesus said Sudanese investors interested to invest in Ethiopia would get efficient service through a one stop service.
The Commissioner noted that the manufacturing sector especially textile and garment are the priority areas for foreign investors. He added that metal, steel manufacturing and leather products, pharmaceuticals and agricultural areas are also lucrative businesses opportunities to Sudanese investors.
Mohammed Ahmed Hajo, one of the attendees of the business forum, is currently engaged in engineering. He said: “ I came to explore the opportunists for my investment. I am well aware that there is good facilities and easy to start business. It is really very attractive to investment. I will soon start feasibility study in the mining sector ”
BY SOLOMON MEKONNEN