Ethiopia sets stable framework for business: UK trade envoy

Addis Ababa, September 23, 2017 (FBC) – The Ethiopian government has set a sustainable framework for business investments in infrastructure and cheap power supply, said UK Prime Minister’s Trade Envoy MP Jermy Lefroy.

In an exclusive interview with ENA, Lefroy appreciated the government’s commitment towards encouraging and attracting trade and investment through expanding industrial parks, abundance infrastructure and cheap power supply.

Noting that the Ethiopian government and people are doing a lot to encourage companies to do business in the country, the Trade Envoy said “What we want to see is trade and investment increase on both sides”.

In this regard, making more UK companies aware of business opportunities in Ethiopia is among the things that should be done to increase the trade volume between the two countries.

“So that is why in which we can see both the number of jobs created increase, the amount of exports grow and the imbalance in trade between the UK and Ethiopia reduce” he added.

According to the Envoy, it is not just about exports and imports, it is also about UK companies coming to Ethiopia to invest in the country to create jobs and enhance the trade and investment ties.

Mentioning that he had held talks with some of Ethiopia’s ministers over the last couple of days about how to fuel investment into Ethiopia, Lefroy stated “I think what they always mention is the importance of creating jobs for Ethiopians and UK wants to share on that”.

“If we invest, we create jobs at the same time we also hopefully create products which can be exported or services that can be exported that can earn the foreign currency that the country needs,” Lefroy elaborated.

Modernizing the agriculture sector and development of infrastructure for industrial development is important for a country’s overall development.

In this regard, the Envoy appreciated Ethiopia’s commitment towards more productive agriculture and development of agro-processing industrial parks saying these are ‘absolutely key’ to the economic development.

As affordable energy is important for the realization of a country’s development UK will assist Ethiopia in the development of energy, Lefroy said.

“Ethiopia can export power as it does already to a small extent, but to a much greater extent and earn foreign currency,” he said highlighting Ethiopia’s potential to be an energy power house in Africa.

Infrastructures on railways and new airports, service, food processing and packaging are the other priority areas of cooperation for the two countries.

Noting that the bilateral relationship with Ethiopia is vital, the Envoy said “We have had a long tradition of working together with Ethiopia across the years, and I think we want that to continue and strengthened”.

Among the cooperation between the two countries, peace and stability is one. UK values Ethiopia’s contribution as it is the largest contributor of peacekeeping troops in the world, Lrfroy said.

“We want to play our role in peace keeping because without peace and stability economic development is useless. You must have that peace and stability and Ethiopia is a major contributor to that and we want to support and respect that”.

Besides enhancing trade and investment, and strengthening strategic economic cooperation, the Envoy said “we can learn a great deal from your experience of how you had developed your country in a very short period of time”.

The development endeavors aimed to improve livelihoods of its citizens, efforts in global peacekeeping missions and speedy economic growth makes Ethiopia an ally to the UK.