November 19, 2017 – Park IL, Consul-General of Korean Embassy in Ethiopia, stated that Ethiopia is a priority partner nation for Korea, and the two countries have great interest to deepen their cooperation in areas of coffee, education, science and technology, according to the Ethiopian News Agency.
Korea imports coffee, sesame, vegetables and flowers and exports heavy machinery, synthetics, petro-chemical and vehicles to Ethiopia.
“Ethiopian coffee is gaining more and more popularity in Korea”, Park IL said, adding “I can grant you that the volume of coffee will increase every year. Our embassy is promoting your coffee in Korea very much. Whenever Korean tourists come to Addis Ababa we provide them Ethiopian coffee and for sure the trade volume will increase.”
Health and sanitation, rural development, transport and energy, and education are the priority areas that the countries are working in, according to the Consul-General.
The total trade and investment between the nations amounted 150 million USD in 2016.
Noting that the trade volume and investment between the two countries are not at the desired level, the Consul-General said the two sides have to work hard to increase trade and investment.
The Ethiopian government “is working hard to create favorable conditions for investment. The Korean government really commends its efforts and from our side we are trying to invite many Korean investors to come and invest here in industrial parks and other areas of the country. I am really optimistic about the future foreign direct investment in Ethiopia,” Park IL said.
The Korean government has launched new batches of its soft loan program called Economic Development Cooperation Fund (EDCF) amounting to 500 million USD for the period of 2016-2018, it was learned.
Source: Ethiopian News agency
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