Ethiopia, South Africa to Elevate Bilateral Relations
Ethiopia and South Africa are working to boost trade and investment, integrate their economies, says Ambassador Dr. Shiferaw Teklemariam.
Ambassador Dr. Shiferaw, approa ched by The Ethiopian Herald, said that the total trade volume between Ethiopia and South Africa stood at more than 166 million USD in 2016, a figure much lower in relation to the potential. “Growth in bilateral trade exchanges of Ethiopia and South Africa has not seen concomitant increase both in terms of volume and capital,” he added.
According to Dr. Shiferaw, in terms of FDI flow from South Africa to Ethiopia in the past years, until September last year Ethiopia had licensed 58 South African investment projects with a total capital of more than 1 billion Birr. Some of the companies operating in Ethiopia are PPC (Cement), Tiger Brands (Packa ging Materials), Mckinsey and Company (Industrial Technical Consultancy service), Group Five Construction (General Construction), and Standard Bank (representative office).