August 28/2014 The desire of Italian companies to invest in Ethiopia would consolidate the long standing diplomatic and economic relations of the two countries, Prime Minister Hailemariam Dessalegn said.
The premier held talks on Thursday, August 28, 2014 with representatives of 25 huge companies and government officials on investment and trade.During the discussion, Hailemariam called on Italian manufacturing industries to invest in Ethiopia.
The prime minister also advised the companies to invest in agro-processing, agriculture, infrastructure, and tourism sectors.The government will help the companies in overcoming the challenges they may face in obtaining loans from banks, a foreign ministry official who attended the discussion added.
The delegation leader, Italian Ambassador to Ethiopia, Giuseppe Mistretta, on his part said some of the companies have already started investing in the country.
The ambassador also said he has plans to bring investors interested in engaging in agro-business, leather and leather products manufacturing industries to Ethiopia.
Although the bilateral trade relation of Ethiopia and Italy has shown growth in the past 3 years, it is still low taking into consideration the long standing diplomatic relation of the countries, he noted.
The ambassador said his country has given special attention to developing trade and investment ties of Ethiopia and Italy.
Diplomatic relationship of the countries began in 1889.