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Korea and Ethiopia Strengthen Cooperation
The Ministry of Trade, Industry and Energy (MOTIE) announced last Thursday that it held the second Korea-Ethiopia Business Forum in Seoul.
This is the second such forum since President Lee’s visit to Ethiopia in 2011. It was hosted by the Federation of Korean Industries and the Embassy of Ethiopia in Korea to celebrate the 50th anniversary of diplomatic ties between the two countries and new flights by Ethiopian Airlines.
At the forum, Korea and Ethiopia decided to closely cooperate to foster the textile industry in Ethiopia, encourage Korean companies to move into Ethiopian industrial complexes and attract investment.
More detailed measures will be discussed at the annual industrial cooperation committee between the two countries.
Kim Jae-hong, Vice Minister for Industry and Technology of MOTIE, noted that sufficient infrastructure, including electricity and a water supply system, must be in place for the success of industrial complexes Ethiopia is working on. He also emphasized the importance of investment environment improvements, including for matters regarding duties and customs clearance, to enhance the expansion of Korean companies to the Ethiopian market.
Kim also met with the vice ministers of industry, commerce and mining to discuss a memorandum of understanding signed between ministries of Korea and Ethiopia, measures to increase trade and investment and cooperation for the mining industry.
Source Text
Date
2013.06.24
The Ministry of Trade, Industry and Energy (MOTIE) announced last Thursday that it held the second Korea-Ethiopia Business Forum in Seoul.
This is the second such forum since President Lee’s visit to Ethiopia in 2011. It was hosted by the Federation of Korean Industries and the Embassy of Ethiopia in Korea to celebrate the 50th anniversary of diplomatic ties between the two countries and new flights by Ethiopian Airlines.
At the forum, Korea and Ethiopia decided to closely cooperate to foster the textile industry in Ethiopia, encourage Korean companies to move into Ethiopian industrial complexes and attract investment.
More detailed measures will be discussed at the annual industrial cooperation committee between the two countries.
Kim Jae-hong, Vice Minister for Industry and Technology of MOTIE, noted that sufficient infrastructure, including electricity and a water supply system, must be in place for the success of industrial complexes Ethiopia is working on. He also emphasized the importance of investment environment improvements, including for matters regarding duties and customs clearance, to enhance the expansion of Korean companies to the Ethiopian market.
Kim also met with the vice ministers of industry, commerce and mining to discuss a memorandum of understanding signed between ministries of Korea and Ethiopia, measures to increase trade and investment and cooperation for the mining industry.
Source Text
Source: Newsis (June 20, 2013)
** This article was translated from the Korean.