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More stories.. Newsletter Date - April– June /2014 E M B A S S Y O F T H E F E D E R A L D E M O C R A T I C R E P U B L I C O F E T H I O P I A N E W D E L H I NEWS LETTER Embassy’s Address Inside this issue: Integrated cluster to be set up in Ethiopia 2 Congratulatory message from Ethiopia 3 Interaction with members of FIEO 3 1 st CII Africa Seminar Series in Punjab 2 Africa Day Celebration 3 1 st CII Africa Seminar Series in Punjab, Interaction with members of FIEO Amendment on Investment Proclamation for 7/50-G, Satya Marg, Chanakyapuri New Delhi 110 021(INDIA) Tel: 0091-11-26119513 / 14 0091-11-24675367 Fax: 0091-11-26875731 Email: [email protected] / [email protected] Website- www.ethiopianembassy.org.in Republic of Ethiopia and the Chief Guest Mr. Sumit Mullick, Chief of Protocol and Principal Secretary of the state of Maharashtra addressed the gathering. H.E Ambassador Gennet has said "The National day is the day in which the Country has embarked on putting in place democratic system of Government where the prac- tice of multi-party systems and the rule of law have started to take roots. Ethiopia is now a country which embraces diversity. Together Ethiopians have built up a political process that cont.. To page 2 Ginbot-20 (May 28) commemorated in Mumbai Ethiopia's National Day - 28th May – marked colorfully in Mumbai at Taj Mahal Hotel. Embassy of Ethiopia at New Delhi and the Consulate General Office at Mumbai jointly organized the National Day anniversary. The National Day /May 28/ the day of the demise of the dictatorial Derg military regime that was in place from 1974 until 1991. When it was overthrown by a coalition of liberation forces which demanded a democratic system that recognized the rights and freedoms of all of Ethiopia's many nationalities. It is a day when the people of Ethiopia have triumphed against tyranny, bloodshed and repression. During the occasion H.E Gennet Zewide Ambassa- dor Plenipotentiary of the Federal Democratic Volume 5, No 3 Ambassador Gennet Zewide Addressing the gathering

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Page 1: April - June 2014 News letter - Copyethiopianembassy.org.in/investment/April-June_2014_News_letter.pdf · colorfully in Mumbai at Taj Mahal Hotel. Embassy ... and products, marketing

More stories..

Newsletter Date - April– June /2014

EMBASSY OF THE FEDERAL

DEMOCRATIC REPUBLIC OF ETHIOPIA NEW DELHI

NEWS LETTER

Embassy’s Address Inside this issue:

Integrated cluster to be set up in Ethiopia 2

Congratulatory message from Ethiopia 3

Interaction with members of FIEO 3

1st CII Africa Seminar Series in Punjab 2

Africa Day Celebration 3

1st CII Africa Seminar Series in Punjab,

Interaction with members of FIEO

Amendment on Investment Proclamation for

7/50-G, Satya Marg, Chanakyapuri New Delhi 110 021(INDIA) Tel: 0091-11-26119513 / 14

0091-11-24675367 Fax: 0091-11-26875731 Email: [email protected] /

[email protected]

Website- www.ethiopianembassy.org.in

Republic of Ethiopia and the Chief Guest Mr. Sumit Mullick, Chief of Protocol and Principal Secretary of the state of Maharashtra addressed the gathering. H.E Ambassador Gennet has said "The National day is the day in which the Country has embarked on putting in place democratic system of Government where the prac-tice of multi-party systems and the rule of law have started to take roots. Ethiopia is now a country which embraces diversity. Together Ethiopians have built up a political process that cont.. To page 2

Ginbot-20 (May 28) commemorated in Mumbai

Ethiopia's National Day - 28th May – marked colorfully in Mumbai at Taj Mahal Hotel. Embassy of Ethiopia at New Delhi and the Consulate General Office at Mumbai jointly organized the National Day anniversary.

The National Day /May 28/ the day of the demise of the dictatorial Derg military regime that was in place from 1974 until 1991. When it was overthrown by a coalition of liberation forces which demanded a democratic system that recognized the rights and freedoms of all of Ethiopia's many nationalities. It is a day when the people of Ethiopia have triumphed against tyranny, bloodshed and repression.

During the occasion H.E Gennet Zewide Ambassa-dor Plenipotentiary of the Federal Democratic

Volume 5, No 3

Ambassador Gennet Zewide Addressing the gathering

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If you have any com-ments and suggestions please forward in our email.

We are happy to work as a team.

Thank you

Dear readers

In this edition, we have incorporated some of the major activities of our embassy during the last three months(April-June). One of the major incidents was the celebra-tion of Ethiopia’s National Day, May 28/2014.

To mark the significance of the day, we have also incor-porated the picture gallery that depicts the activities dur-ing the celebration.

..Cont —Page 1

Editor’s Message

Cont.. From Page 1

respects and actively supports all stakeholders. This new political dispensation is a source of social harmony which has brought successive economic prosperity, especially in the last decade where there has been an average of 10.2% successive economic growth."

On the other hand Mr. Sumit Mullick has said why the two countries need to strengthen their centuries old relation. He stressed "This relationship contin-ued after the independence of India where the two countries work together to promote common agen-das and issues in various multilateral and regional organizations. Economic cooperation holds the piv-otal point in cooperation between the two coun-tries. According to him the cultural similarities be-tween the two people make Ethiopia a destination to Indian business people. Ethiopia is like a second home to many Indian business people.".

Page 2 NEWS LETTER

Integrated cluster to be set up in Ethiopia

After the establishment of India-Africa forum in 2008, Ethiopia has benefitted from the Indian Lines of Credit (LOCs) in Africa.

Under this forum Addis Ababa declaration India prom-ised to build an integrated Textile cluster in Africa. AU has decided in may /21014 that an India-Africa Integrated Textiles Cluster project to be set up in Ethiopia since the country fulfils the conditions for the project and its competitive advantage on the cotton plantation.

The cluster will support the cotton industry and its processing and conversion into high value products. The project will be established in an industrial sector in Amhara region in a place called Kombolcha. It is as-sumed that it will serve as a spring board to boost Ethiopian textile industry and its competitive world market share.

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Business News Congratulatory Message from

Ethiopia

Page 3 NEWSLETTER TITLE

New tourism organization promotes positive image Ethiopia officially launched a new tourism organization with the goal of transforming the sector and its revenue. The Ethiopian Tour-ism Organization (ETO) is part of the new institutional framework estab-lished in the Growth and Transforma-tion Plan (GTP) to expand the reve-nue the nation earns from tourism. By the end of the GTP the govern-ment hopes to earn USD three Billion from tourism. The mandates will be fostering competitiveness and sus-tainability of tourism destinations and products, marketing Ethiopia as tourist destination (leading a coordi-nated effort to position Ethiopia in the international travel market and to promote domestic tourism), and en-sure collaboration and alignment of public and private organizations in-volved in tourism development

Tourism

Prime Minister of the Federal Democ-ratic Republic of Ethiopia H.E Ato Hailemariam Dessalegn congratulated the newly elected Prime Minister of the Republic of India, H.E Shree Narendra Modi. In his message Ato Hailemariam mentioned the long standing brotherly relation between the people and gov-ernment of the two countries. He also wished health and success in his tenure to the prime minister and peace and prosperity to the people of India.

On the other hand Dr. Tedros Ad-hanom, Foreign Minister of the Federal Democratic Republic of Ethiopia has sent the congratulatory message to H.E Mrs. Sushma Swaraj. He had also per-sonally called to pass his good wishes to the Minister.

based on a shared strategy. Recently the government has formed a Tourism Transforma-tion Council (TTC) and Tour-ism Board to boost the sec-tor. In these two institutions and top government officials will oversee the development of the sector. ETO’s vision is to place Ethiopia among the top five tourism destinations in

Africa by 2020. The mission is to transform tourist in Ethiopia, leaving no stone unturned to build a competitive and sustainable tourism sector. The government plans to in-crease the number of tourists to one million by the end of the GTP from the current 500,000. The sector income generation has reached about USD half a billion over the past year, while the target in 2015 is USD three bil-lion. ETO will focus on developing the nation’s tourist destinations and promoting positive images. The United Nations Development Program supports the organization. .

Interaction with members of FIEO

H.E. Ambassador Gennet Zewide had interacted with members of Federation of Indian Export Organizations (FIEO) during an ‘Interactive Session on Trade and In-vestment Opportunities in Ethiopia” which was held on May 20, 2014. More than 50 members had participated from Delhi and Mumbai via video conference. H.E. Ambassador had briefed the members on the overall bilateral relationship between Ethiopia and India, and then elaborated about the opportunities in trade and investment. At the end of the session, Her Excellency had responded to the questions raised by the participants.

1st CII Africa Seminar Series in Punjab,

Chandigarh

H.E. Gennet Zewide, Am-bassador of the Federal De-mocratic Republic of Ethio-pia and Deputy Dean of Af-rican Heads of Mission in India, had participated in the “CII Africa Seminar Series – The Land of Unexplored Potential Trade and Invest-ment Opportunities for In-dian Companies”, which was held on July 3rd 2014 in Chandigarh, Punjab.

The seminar was focused on trade and investment oppor-tunities for Indian compa-nies in Africa.…. Cont to page 4.

..Erta Ele the living volcano

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During the event H.E. Ambassador had interacted with prominent industrialist in the region. She

had invited the SME investors from Punjab to explore the vast investment opportunities in Ethio-

pia in the areas of agriculture and manufacturing sectors. The event got coverage by both English

and Hindi media.

..Cont —Page 3

Amendment on Investment Proclamation for Improved FDI Ethiopia’s investment climate has been improving steadily for the past ten plus years. With a consistent high economic

growth and increasing fiscal and monetary stability, Ethiopia has become known as one of the handful of economies

which can expect to emerge as a manufacturing powerhouse.

UNCTAs World Investment Report 2014 recently defined Ethiopia as one of the major investment destinations in Africa.

It said it had become a steadily increasing recipient of foreign capital flows and described it as the most attractive desti-

nation of investors in the region in 2013. According to the report Ethiopia received US$953 million worth of Foreign Di-

rect Investment (FDI) in 2013. The report implied that this notable progress in attracting FDI was a clear response to the

Government’s right mix of industrial policies and strategies. These had created enabling factors for increasing capital

flows into the country in selected priority areas for investment. The report also indicated that the country’s industrial

strategies had played a crucial role in attracting foreign investors in the manufacturing sector and bolstering the growth

of FDI.

On 20th June 2014, the House of Representatives, deliberated and approved amendments to the Investment Proclamation

(number 769/2004) that has been in force for more than a decade. The amended proclamation addresses the growing

complexity and scale of Foreign Direct Investment flows to Ethiopia and the need to adapt to changing international

circumstances and exposures.

The new proclamation has amended the structure of the Ethiopian Investment Agency and upgraded it to a Commission

level. It has also established a National Investment Board presided over by the Prime Minister. This high-level leader-

ship is intended to effectively and efficiently address investment problems and hurdles. Another important develop-

ment in the amendment relates to industry zones that have recently become popular with many foreign investors.

Ambassador Genet Zewide in CII conclave meeting

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VOLUME 5, NO 3

CII Delegation Visit in Ethiopia

The Confederation of Indian Industry (CII) had led a trade and investment delegation to Ethiopia from July 14-15, 2014 to

discuss multi-sector projects. The 14-member delegation including the resident representative of Exim Bank of India,

CEO of State Bank of India, and the Director of Africa, Gulf and Middle East of CII had met several private and govern-

ment officials.

The aim of the visit is to study the opportunities Ethiopia offers to Indian companies. Apart from strengthening the trade

relation the visit promotes strong industrial relationships between the two countries and boost economic opportunities.

The delegates had interacted with higher officials and business partners, including the Ethiopian Chamber of Commerce

and Sectoral Association (AACCSA) and the Addis Ababa Chamber of Commerce and Sectoral Association (AACCSA)

for business to business engagement with Ethiopian businesses. In addition, they had a meeting with officials of the

Ethiopian Investment Agency (EIA) and discussed about various investment opportunities and the areas Indian compa-

nies could invest. They has also met and interacted with the Minister of Ethiopian Agriculture Investment and Land

(EAIL), Ministry of Industry (MoI) and Ministry of Water, Irrigation and Energy (MoWE), and India Business Forum (IBF)

in Ethiopia.

Photo gallery: from the 23 anniversary of May 28

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Page 6 VOLUME 5, NO 3

Address

7/50-G, Satya Marg, Chanakyapuri New Delhi 110 021(INDIA)

Emails:

[email protected] /

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

[email protected]

Telephone 0091-11-26119513 / 14

0091-11-24675367

Fax: 0091-11-26875731

India-Africa Relation Discussed

Embassy of the Federal Democratic Republic of Ethiopia has coordinated a forum with the Indian Council of World Affairs, a renown think tank in India, to discuss the current India-Africa relation and the way forward. The half day forum was held in Indian council of World Affairs conference room on June 10/2014. The Embassy of Ethiopia coordinated 14 African countries Embassies Ambassadors (Angola, Benin, Botswana, Burkina Faso, Egypt, Gabon, Guinea, Kenya, Mozambique, Rwanda, Senegal, Sudan, south Sudan, ) and co-chaired the workshop that was aimed to really held a two way discussion to update India-Africa partnership. Its focused on the relationship of the last five years and specifically the developments after the India-Africa Forum II also discussed the upcoming IAFS III. Participants have reflected their observations on the tri-levels (Bilateral, Regional and AU level) inter-actions with India. The multi-sectoral engagements in trade, capacity building, institution building, human resource development, LOC etc has been the area of discussion. It was mentioned that Trade is in favor of India though it is increasing tremendously, Loc benefited Africa in many projects Ethiopia has been mentioned as an example to benefit from the LOC for developing sugar and industries railway lines. LOC’s utilization is almost 75% and it is given according to the development priorities of the recipients. Africa’s representation in India has also increased though it has not been reciprocated; African Embassies were only 25 in 2006 but now the number goes to 42, In capacity building programs the training utilization has reached 90%. On the other hand short comings have been raised by the participants. Some of these are institution building lagged a lot, lack of adequate ministerial and higher level exchanges, lack of attention in ca-pacity building specifically in IT, lack of attention to education, slow implementation process in LOC, lack of role for African Ambassadors in the implementation and follow up of IAF declarations, lack of enough engagement for people to people relation, etc. The discussion forum has also discussed ways to improve the problems mentioned and underlined the need to strengthen the people to people relation (folks, theater, music etc), more contacts between academic institutions, researchers, writers, contact with journalists, think tanks and opinion makers, competition among universities, sport and soccer engagements, periodical review of developments, increasing Indian representation in Africa, the need for establishing India-Africa chamber of commerce and the like.