Ethiopia and Belgium should strengthen their economic relation by using the strong diplomatic tie they have developed, Belgium’s Ambassador to Ethiopia said.
In an exclusive interview with ENA, Ambassador Hugues Chantry said though the countries have long-standing diplomatic relation, their economic tie is weak.
Belgium imports coffee and horticultural products from Ethiopia, while Ethiopia imports agricultural chemicals and machinery, he said, adding that the trade exchange is still way below the desired level.
The ambassador said his country is committed to using the strong diplomatic relation that exists between the two countries as a leverage for creating better trade and investment ties.
Belgian businesspersons who invested in Ethiopia are few and the capital flow of those engaged in textiles and flowers is not more than 20 million Euros, he added.
Efforts are being exerted to encourage businesspersons to engage in various investment sectors in Ethiopia, according to the ambassador.
The Ethiopia Embassy in Brussels has for instance been promoting the wide investment opportunities in Ethiopia, in collaboration with Belgium Chamber of Commerce, he elaborated.
Subsequently, Belgian investors have carried out feasibility studies in areas of green development, water development and civil engineering, and some have shown interest to invest in Ethiopia, Ambassador Chantry added.
The fast growing Ethiopian economy has the potential to attract many investors, he stressed, adding that he has therefore been encouraging Belgian investors to benefit from the low labour cost, natural resources, peace and security in the country.
On other hand, the ambassador appreciated the role Ethiopia has been playing in bringing peace and stability in the Horn of Africa.
He said his country would provide all the necessary support for Ethiopia’s effort through the European Union.
Ethiopia and Belgium established political and diplomatic relations in 1906.
[ENA]