ADDIS ABABA, A group of representatives of German companies and institutions with interest in Africa are currently in Ethiopia to explore investment opportunities in the country.

The delegation from the German-African Business Association held discussions with Ethiopian Foreign Affairs State Minister Dr. Aklilu Hailemichael here Thursday. Association Chairman Dr. Stefan Liebing said the discussions were part of a regular exchange of investment plans and business co-operation between the two countries.

“During our discussions today we were able to recognize a number of success stories such as the recent investment in agriculture, automotive sector and several others which have been in Ethiopia for years,” he said, adding that the association was pursuing a number of major projects in renewable energy, infrastructure and high technology.

“On top of this, in view of the new attention the G-20 (Group of 20 leading developed and emerging economies) governments are giving to Africa, I am very optimistic that we can create a few big success stories over the next two months,” Liebing said.

German Ambassador to Ethiopia and the African Union (AU) Brita Wagener said the discussions were fruitful in terms of assessing the possible business and investment opportunities.

“We discussed possibilities for German companies to work in Ethiopia and they would like to engage in various sectors of light manufacturing and infrastructure,” she added.

Dr. Aklilu told journalists that members of the association were briefed on the available business and investment opportunities in Ethiopia.

Trends are that investors are flowing towards Ethiopia not only from Asia but also from Europe, mainly because the whole world understands that the country is the best investment destination in Africa, he added.

The German-African Business Association provides information about countries and markets and represents the interests of more than 600 members nationally and internationally with respect to political, economic and media issues.


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