YANMAR, Osaka CCI invited to explore trade, investment opportunities in Ethiopia
Addis Ababa, September 22, 2023 (FBC) – Ethiopian Ambassador to Japan, Dhaba Debele, has invited Japan’s YANMAR Co. Ltd and Osaka Chamber of Commerce and Industry (OCCI) to explore the lucrative trade and investment opportunities in Ethiopia and closely cooperate with relevant stakeholders in his country.
Ambassador Dhaba held a discussion with Mr. Akihiko Hiraoka, Chief Marketing Officer of Yanmar Agribusiness, in Osaka on ways of finding agricultural machinery manufacturing companies in order to support the homegrown agricultural initiative launched in Ethiopia through technology transfer.
Considering that YANMAR is globally known for manufacturing tractors and various agricultural and heavy construction machineries, the Ambassador invited the company to work in partnership with the Ethiopian government and private companies in the agriculture sector as well as seize the enticing investment opportunities in Ethiopia.
It is stated that YANMAR Agrobusiness director and board members, its overseas sales project manager, as well as the director of the Marketing and Sales division and the experts participated in the discussion through webinar.
Following the brief provided to them by Amb. Dhaba, the Company’s leadership noted that they are weighing in on the opportunity to engage in the Ethiopian investment based on the findings of a research to be conducted in Ethiopia. They also agreed to work closely with the Embassy and the Honorary Consulate of Ethiopia in Osaka.
On the other hand, Ambassador Dhaba Debele had a discussion with Vice Chairperson of Osaka Chamber of Commerce and Industry (OCCI), Mr. Junzo Tateno, in Osaka where the Ambassador gave a presentation to the vice chairman and participants about Ethiopia’s overall investment potentials and opportunities.
It is learned that OCCI has more than 30,000 subsidiaries worldwide and is working in cooperation with fellow companies from Asia, Europe, the Middle East and North America, but it is mentioned that it has not initiated its presence within Africa yet.
Accordingly, Ambassador Dhaba called on OCCI to look at Africa in terms of the trade and investment potential of the continent considering it is home to 20% of the world’s population. More importantly, Ethiopia is the gateway to Africa, he said, calling on the Chamber to explore the investment and trade opportunities in his country.
Appreciating the Ambassador’s briefing, the vice chairperson of the Chamber disclosed their intent to start working together on Ethiopian agricultural production and investment. He stated that the Chamber will inform Ethiopia to participate in the Global Innovation Program, which is currently in effect in ASEAN countries, focusing on the technologies of the start-up business and expanding its work to Africa, so that the youth in Ethiopia can participate online.
Accepting the Ambassador’s invitation to look into the lucrative investment opportunities in Ethiopia, the vice chairperson affirmed that OCCI will send a team to Ethiopia to observe the potential.