Over 20 Canadian companies exploring investment opportunities in Ethiopia

More than 20 Canadian companies representing from cleanTec and education are exploring investment opportunities in Ethiopia.
Canadian Free Trade Agreement Promotion Division Director, Cindie-Eve Bourassa said “we are excited to be here to learn about export opportunities in the Ethiopian market.”

According to her, Canada is looking at increasing export by 50 percent and new markets for that. “So one of the reasons to come to Ethiopia is in line with that.”

“We bridge between Canada and Ethiopia. What we are doing is making sure that Canadian companies get exposure as much as possible to the Ethiopian market so that they can start a company here,” Bourassa elaborated.

The business delegates are drawn from agriculture and agri-food, information and communication technologies, infrastructure, and sustainable technologies.

Besides strengthening the business-to-business cooperation between the countries, the business mission will play significant role in taking the bilateral relationship to a new level, the director pointed out.

Planning and Development Commission Expert, Seid Nuru briefed the business delegates about the state of the Ethiopian economy. He noted that Ethiopia, with the fastest economic growth and 3 years home grown economic reform is “at a new era for takeoff.”

During their stay here, the Canadian business delegates will have business-to-business discussions with their Ethiopian counterparts.

Merchandise trade between Ethiopia and Canada in 2018 was 170 million USD, while the total direct investment of Canada in Ethiopia during same year stood at 174 million USD.

Source: ENA