Addis Ababa: Ethiopia’s strategic position in the African Continental Free Trade Area (AfCFTA) presents it as a gateway for Kenya to the broader North African market, as stated by Tobias Alando, CEO of the Kenya Association of Manufacturers (KAM). Alando highlighted this potential during the Ethio-Kenya Business Conference held in Addis Ababa, emphasizing the collaborative opportunities for both nations.
According to Ethiopian News Agency, Alando expressed confidence in the bilateral relationship, noting that both Kenyan and Ethiopian business communities are eager to strengthen their ties. He stressed the mutual benefits that could arise from joint efforts to access neighboring markets, reinforcing the collaborative spirit between the two countries.
Zekarias Assefa, Acting Secretary General of the Addis Ababa Chamber of Commerce and Sectoral Associations, remarked on the historic diplomatic relations between Ethiopia and Kenya, which date back to the early 20th century. These longstanding ties have facilitated trade and investment in key sectors, including agriculture and tourism.
Kenya’s Ambassador to Ethiopia, George Orina, observed significant changes in the Ethiopian market, highlighting the recent reforms in the foreign exchange regime by the National Bank of Ethiopia. These changes, introduced in July 2024, aim to enhance the flexibility of currency transactions for banks and investors, thus creating new economic opportunities.
Yohannes Fanta, Director-General at the Ministry of Foreign Affairs, underscored the exceptional partnership between Ethiopia and Kenya, founded on mutual respect and understanding. He emphasized the vast potential for trade and investment collaboration, encouraging both nations to work closely for mutual benefit.
The Ethio-Kenya Business Conference, a joint effort by the Addis Ababa Chamber of Commerce and Sectoral Associations and the Kenya Association of Manufacturers, served as a platform to discuss and promote economic cooperation between the two countries.