A Greek delegation from the Ministry of Foreign Affairs visited Addis Ababa on Thursday to attend the second Ethio-Greek Business Forum. The forum represented part of the celebrations for the conclusion of a century of diplomatic relations between the two countries. The forum welcomed representatives from 14 Greek companies which examined the potential for future business ventures in Ethiopia. Upon the successful inauguration of the forum, the Ethiopian Chamber of Commerce and Ectorial Associations ratified a Memorandum of Understanding (MoU) with the Greek Federation of Enterprises (SEV). Within the memorandum, the two countries’ leading business authorities agreed to facilitate initiation of new business ventures in both countries and delineated a framework of actions to be taken by involved stakeholders.
There are several areas wherein new business ventures could be made by Greek companies in Ethiopia. Above all, Ethiopia’s energy sector is open for all types of investments, particularly those geared towards Green economy projects. The Ethiopian government also envisages the development of public-private partnerships for infrastructural projects and the construction of new residential and commercial complexes in urban and rural parts of the country. Additional areas of potential investments entail the pharmaceutical, cosmetics and local agriculture sectors. Greek business representatives also discussed the possibility of increasing export volumes of oil olive and wine resources.
The Ethiopian Foreign Minister, Dr. Aklilu Hailemichael welcomed the Greek delegation during the inaugural ceremony and stressed the long-standing ties between the two countries. The Ethiopian Minister also underscored the growth significance of initiating new business ventures in the areas of agriculture, energy and tourism. For his part, the Greek Deputy Foreign Affairs Minister, Nikolaos Terens Quick praised the hosts of the 2nd Ethio-Greek Business Forum. The Greek Deputy Minister also argued that the Greek business community is committed to the establishment of long-term business projects in the country.