(Addis Ababa, May 15, 2011 )- The Swedish Embassy in Addis Ababa announced early this week that it has launched a new project dubbed Project Cosmopolitan, which would facilitate conditions for Swede-Ethiopians to come and invest in Ethiopia.
At a meeting with members of the business community at the embassy’s premises Tuesday afternoon, where the trade and investment between the two countries was the topic, Ambassador Jens Odlander announced the kick-off of the project to help business people in Sweden of Ethiopian origin to tap into the Ethiopian market.
The project incorporates systems where Ethiopians in Sweden register according to their interest and knowledge to come to the growing Ethiopian market, the ambassador said.
He said that his government’s project also targets foreign national who have benefited from the Swedish system to penetrate the market of their country of origin.
On the other hand, the trade fund which could contribute up to 50 percent of the investment is also available to the returnees investing in Ethiopia.
Meanwhile, the embassy also announced that an Ethiopian business delegation, which is to head to Sweden, is also expected to take the plan to reinforce trade ties between the two countries to another level.
According to the ambassador, the plan to take the business community to Sweden has gotten acceptance from his governments and he will be writing an official letter to the Ethiopian government shortly.
One of the Swedish returnees, Brux Worku, general manager of Svea Business Plc, said that the idea of sending a business delegation is a plan that he and other returnees have been pushing for
. “It was eight month ago that we approached the embassy to conduct trade delegation match making programme, that very effort is now bearing fruit,” he told The Reporter.
He said that the then Ministry of Trade and Industry, the investment office and other government bodies have accepted the idea of sending a trade delegation and the only thing left is to have formal go head.
It is to be recalled that the Ethiopian government has shut down its embassy in Stockholm last year saying that there is no significant trade and business ties between the two countries.
Some business people representing the Swedish companies (electric equipment manufacturers) in Ethiopia at the meeting voiced their concern about being taken over by Chinese and Indian counter-parts.
Hot debate about price and quality has been conducted as most of the products from Sweden are not as competitive as the Chinese ones.
On the other hand, the issue of property right in the products sold in Ethiopia has also occupied center stage.
Source: Reporter
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