• KITA and 5 Economic Organizations Hosted Welcome Luncheon for Ethiopian Prime Minister
    2019-08-27 hit 688

    KITA and 5 Economic Organizations Hosted Welcome Luncheon for Ethiopian Prime Minister


    - Sought cooperation measures for win-win growth with Ethiopia and expansion into African markets - 


    The Korea International Trade Association (Chairman, Kim Young-ju) and the 5 Economic Organizations; the Korea Chamber of Commerce and Industry, the Korea Federation of Small and Medium-sized Businesses, the Federation of Korean Industries and the Federation of Middle Market Enterprises of Korea hosted a welcome luncheon at Lotte Hotel in Sogong-dong on August 27th by inviting Ethiopian Prime Minister Abiy Ahmed and the Ethiopian delegation who were in Korea for an official state visit.


    Prime Minister Abi Ahmed was the president of the Korean-Ethiopian Parliamentary Friendship Association (2012-2018) and has been promoting reform and opening policies since his inauguration last year. The welcome luncheon was attended by more than 130 economic figures, including Prime Minister Abi Ahmed and Ethiopian government officials, Chairman Kim Young-ju of the Korea International Trade Association, Vice Chairman Kim Jun-dong of Korea Chamber of Commerce and Industry, and Vice Chairman Moon Chang-sup of Korea Federation of Small and Medium-sized Businesses.


    Chairman Kim Young-ju stated in his welcoming speech, "If we expand the economic cooperation between the two countries by combining Korea's experience and technology, Ethiopia will have the opportunity to develop the industry and Korea will have new opportunities in the African markets with unlimited potential."


    At the ‘Korea-Ethiopian Business Forum’ held ahead of the luncheon, Deputy Commissioner Anteneh Alemu of Investment Operation Division of Ethiopia introduced the local investment environment and opportunities. Chairman Cha Min-ho of Shin Textile Solutions and CEO Choo Chang-ho of Ekos and other companies who have expanded their businesses into Ethiopia shared their experiences of entering into the Ethiopian market and attracted great deal of attention from the participants.


    Chairman Choi Yeon-ho of the Board of Korea-Ethiopia Foundation who co-organized the forum with the Korea International Trade Association said, In July, Foreign Minister Kang Kyung-hwa visited Ethiopia as the first country to visit in Africa and reaffirmed the partnership between the two countries. He also stressed, Since Korean companies are actively discussing investment in Ethiopia, such as the Korea-Ethiopian Investment Guarantee Agreement and the establishment of an industrial complex exclusively for Korean companies, we need to expand the bilateral economic cooperation.


    Cho Bitna, head of Eurasia Branch of the Korea International Trade Association, said, Ethiopia has a consumer market of more than 100 million people and maintains the highest economic growth in Africa. She also added, We hope that this event will trigger the economic exchange between the two countries.




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