JEDDAH, 6 June 2008 — Ethiopia’s efforts to attract foreign investment and promote trade and tourism have been “fruitful,” Ethiopian Consul General Tekleab Kebede said at a function marking the celebration of his country’s National Day at Jeddah InterContinental Hotel on Tuesday night.
Muhammad A. Tayeb, director general at the office of Foreign Affairs Ministry for Makkah Region, was the chief guest and Souleymane Thiam, consul general of Senegal and dean of the Group of African Consuls General, the guest of honor. A large number of officials, diplomats and businessmen were among those invited.
Kebede, who is also the dean of the consular corps here, dwelt on his country’s excellent relations with the Kingdom, which are “old and deep rooted.”
According to him, the bilateral relations continue to expand. “Saudi investment in Ethiopia has reached around $3 billion. This has been steadily increasing as the Ethiopian government is taking measures to encourage private investment and promote the inflow of foreign capital and technology into the country,” Kebede added.
According to Kebede, Ethiopia’s export volume increased by 30 percent in 2007. Apart from the conducive and continually improving policy environment, Ethiopia has various advantages for the development of its export sector. These include the abundant and capable labor force, low wage levels, a wide-ranging weather and soil conditions, preferential access to the United States and European Union markets, as well as its proximity to the Middle East markets. “The preferential access to the Common Market for Eastern and Southern African states with a total population of more than 300 million also offers substantial opportunities for several export items from Ethiopia,” the consul general added.
He said: “The country is open for business. We invite Saudis and their partners to come and invest in Ethiopia, especially in the agricultural sector. We welcome you all to visit Ethiopia and enjoy the wonderful weather, especially between June and September when the average temperature is 20 degrees Celsius and the land is wet and very green.”
He said Ethiopia has, for the first time, been able to score an 11 percent annual growth in the last five consecutive years. “Despite the current global oil and food crisis, the country is expected to mark a similar achievement this year as well,” he added.
The consulate organized a cultural evening earlier in the week to mark the country’s National Day. “May 28 marks the anniversary of the 1991 overthrow of the military dictatorship and the beginning of democracy in Ethiopia. Since then the country has made great strides in peace and stability, democracy and development,” the consul general told the large community that was present. He advised them to continue to abide by the law of the land, participate in the Kingdom’s ongoing development and continue to work toward preserving the excellent image they enjoy here.
