Ethiopian and Egyptian metallurgical industry companies are looking for opportunities to work together, Ethiopian Herald reported.
According to Egyptian Ambassador Abou Bakr Hefny Mohamoud, Egypt’s export to Ethiopia in the first half of 2015 raised by 33 percent compared to the same period in 2014. Similarly, Ethiopia’s export to Egypt has increased by 15 percent compared to the same period in 2014.
Embassy Commercial Office Counselor Waleed El Zomor said metallurgical industry is one of the oldest companies in Egypt ever since the 1950s. There are some 14 companies in the metal sector. “We are exploring different market opportunities especially in Africa and particularly in Ethiopia. Hopefully, the outcome of this seminar will be positive and a step forward," the Counselor added.
He also noted: “We have witnessed a huge increase in business visit and trade exchange between the two countries. The reason for the increase is participation in fair and business seminars. This is among series of seminars to be held with Ethiopian counterparts. It shows the importance of Ethiopia as a country and market to the Egyptian business people.”
Endalkachew Sime, Deputy Secretary General of Ethiopian Chamber of Commerce and Sectoral Associations said the seminar helps display the potential of metal and engineering industry in Ethiopia.
"It is also a means to our metal and engineering sector to get the quality and international certification and technology. They can also get access to capacity building options and opportunities by working closely with the Egyptian companies. These companies have been working for long in this sector and have got a very solid experience and level of technology that can add a significant value if we manage to bring and tie it with our sector," Endalkachew added.
Egyptian investment in Ethiopia is estimated at USD 800 million in different areas like cable, pipes, home appliances and others, it was indicated.
Source: Ethiopian Herald
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